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New gov’t report shows Social Security is in even bigger trouble than previously thought

From Bruce Krasting:

The Congregational Budget Office (CBO) is out with its annual report. It’s a blockbuster. This 165-page monster is filled with dozens of charts, graphs, and detailed projections. It will be talked about for weeks. The report provides a dismal outlook for the economy. There is one data point I’d like to focus on…

The 1.1% real GDP number for 2013 surprised me. The CBO’s expectations are way under those of both the “blue chip” economists and the Federal Reserve…

The CBO now forecasts Social Security to run into trouble in just a few years. This is a very substantial change in the outlook for Social Security. Changed fortunes make it a certainty that America’s favorite entitlement program will be…

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