Hillary: Innumeracy Ho!

clipped from www.captainsquartersblog.com Privatization never works? Beyond that, Hillary wants to sell Social Security as a problem-free program, despite its upcoming financial collapse. She told the AARP that she will refuse to raise the retirement age, cut benefits, or privatize as noted above. The program's trustees issued a report in April that made clear the deficits Social Security faces: Has the size of the Social Security problem changed over the last year? * In net present value terms, Social Security owes $6.8 trillion dollars more in benefits than it will receive in taxes. That number includes $2.0 trillion, in net present value terms, to repay the bonds in Social Security's trust fund. This $300 billion increase is almost 4.5 percent higher than last year's $6.5 trillion number. The 2007 number consists of $2.0 trillion to repay the special issue bonds in the trust fund and $4.8 trillion to pay benefits after the trust fund is exhausted in 2041.