Friday, March 11, 2005

GAO and "No Immediate Crisis"

The Comptroller General says there is no Social Security crisis. Testifying before Congress, the head of the non-partisan Government Accountability Office says the program "does not face an immediate crisis" but there is a long-term financing problem.

David Walker also criticized President Bush for his two-month tour to sell Americans on privatized Social Security accounts. He says the nation would be better served by having the President and Congress work on ways of fixing the financing problems. The private accounts will have no impact on that.

Mr Walker says the sooner Washington acts, the less extreme the fixes to Social Security will be. (LAT)

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