Investors.com reported yesterday on the Obama Administration's delay in releasing the Annual Report of the Social Security Board of Trustees. The report is routinely released between mid-April and mid-May. The report, produced by the Office of the Actuary of the Social Security Administration, includes detailed information about Social Security and its financing over the next seventy-five years.
According to the article:
"The Congressional Budget Office reported last week in its Long Term Budget Outlook that Social Security was already running a deficit this year. According to last year's Social Security Trustees Report, that was not supposed to happen until 2015, with the trust fund to run out completely by 2037.
"With the disastrous Obama economy, the great Social Security surplus that started in the Reagan administration is gone completely."
There is more to the report than Social Security, however. The report also includes information about Medicare and its financing over the next seventy-five years. According to the article:
"What the administration is trying to hide are sweeping draconian cuts to Medicare resulting from the ObamaCare legislation, which the annual report will document."
The article also reports:
"The CBO confessed to $500 billion in Medicare cuts in the first 10 years of Obama-Care alone. Based on those calculations, the minority staff of the Senate Budget Committee estimated the Medicare cuts as $800 billion in the first 10 years of implementation and $2.9 trillion over the first 20 years of ObamaCare. Truthful annual trustees reports would further document these cuts."
We need to elect people in November who will REPEAL AND REPLACE President Obama's healthcare reform before it ruins American healthcare.
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