WASHINGTON - Social Security "does not face an immediate crisis," the head of the Government Accountability Office said Wednesday, but it does face a long-term financing problem "and it would be prudent to address it sooner rather than later."David M. Walker, who heads the nonpartisan Office of Comptroller General, also criticized President Bush for undertaking an aggressive two-month tour to try to sell his plan for allowing younger workers to divert a portion of their Social Security payroll taxes into private investment accounts. Walker suggested that Bush and members of Congress focus on improving financing for the program, which would not be significantly affected by establishment of personal accounts...read on
Will we keep hearing how Social Security is going bankrupt, and how much we need private accounts? Probably so, because the president has some much invested in them at this point. I've alwas felt that you can't institute an ideological movement based on a lie.
In his remarks, Walker said: "Social Security doesn't face an immediate crisis," but he added, "Time is working against us. The sooner you act, the less dramatic the changes that have to be made."
This is part where republicans will try and run in.'
New Republican polling data shows "there is a rejection of the term `crisis' as an accurate description of the state of the Social Security system, and this rejection increases in intensity as the respondents get older," according to a copy of a memo obtained by The Associated Press.
They are rejecting the term "crisis"it because it is not true.