On Inside Politics Karl Rove has this to say:
Rove:... "Unfunded obligations in Social Security are $12 trillion. In 2008 the payments in to the Social Security system will peak and the Social Security surplus peak, 2017, we start spending more money each year than we're taking in, and 2041, about the time our kids and grandkids get set to retire, the system goes bankrupt. That is a problem."
The problem Karl, is that your party started out with this lie, and refuse to stop saying it.
We all know that the system does not go bankrupt in 2041. According to The 2005 OASDI Trustees Report: "Even if a trust fund's assets are exhausted, however, tax income will continue to flow into the fund. Present tax rates would be sufficient to pay 74 percent of scheduled benefits after trust fund exhaustion in 2041 and 68 percent of scheduled benefits in 2079." This lie has not worked for the GOP so far. My question to John King who is filling in for Judy Woodruff is : Why can't you correct this calculated falsehood? Is it too much to ask that the hosts of these shows actually say something like:
King: Actually Karl, the system doesn't go bankrupt in 2041, so why are you saying it does?
