ARTICLES BY SOURCE



Letter to the Editor ¦ December 29, 2002
Re: Hard Truths are Avoided on Social Security

By David Langer

To the Editor:
"Hard Truths are Avoided on Social Security" (news article, Dec. 22) says Social Security "will be running out of money during the lifetime of most of today's workers" and the "reason is demographics."

But Social Security's trustees say benefits will be paid in full tuntil 2041, and more than 70 percent can be paid thereafter.

Also, the projected shortfall after 2041 is not due to "demographics," since these have been factored in since 1983. It is because politicized trustees have prevailed on the actuaries more conservative almost every year from 1983 to 1997.

This was done to get the public to believe that there is a problem that needs fixing, and they have succeeded all too well.

David Langer
New York, Dec. 23, 2002
The writer is a consulting actuary.


© 2001 DAVID LANGER COMPANY, INC.