Smoke and Mirrors
In an attempt to pave the way for an overhaul of Social Security, The Hill reports that"
- "Republicans are pushing to rewrite budget rules in an attempt to remove financial obstacles that threaten the GOP's effort to reform Social security potential move to craft budget language that would direct the Congressional Budget Office to score Social Security reform legislation over 30 or more years would likely increase the chances that the bill would pass in the 109th Congress. Republicans could also write budget provisions that would remove the program entirely from the budget process."
The current 10 year projections are widely considered to be grossly inaccurate because so much changes over the course of 10 years. Does not matter whether you you static or dynamic scoring, the changes over a decade will make any such prediction inaccurate. The CBO estimate of 5.6 TRILLION surplus over 10 years is not looking so good right now, eh? And it wasn't just the tax cuts the administration justified on the basis of this estimate that sapped the expected "surplus". So now we are to base changes in Social Security on CBO estimates for 30 years? C'mon. This is more accounting gimmickry, like not counting the amounts the government owes for the IOU's written to Social Security while still counting the existing surplus against the current year deficit.
I have no problem with the idea of workers having some control over some of the investments of their SS contributions, but I do have a problem with borrowing a couple TRILLION $$ to do it. However, even if the current administration fails to enact some change, I'm glad to see the topic getting pushed up on the agenda and - hopefully - making more Americans face reality on this topic.

