Social Security experts have long struggled against a widespread tendency to overemphasize the program’s “doomsday date” in descriptions of program finances. Countless media articles characterize the annual trustees’ report in terms of Social Security’s combined trust funds’ projected depletion date (currently 2034). Such framing invites the following two misconceptions: Insolvency might not happen, because projections that far out can be wildly wrong; and even if it would happen, we have several years yet to deal with it. Unfortunately, both of these reflexive suppositions are dangerously incorrect.
http://economics21.org/html/why-we-can%E2%80%99t-keep-putting-social-security-fix-1957.html
