Thursday, March 24, 2005

Saving the Barn While the House Burns

A pair of trustees watching over Social Security and Medicare say Social Security's situation hasn't changed since they came onboard in 2000. But they warn that Medicare's finances have "deteriorated dramatically" over the same time.

Republican Thomas R. Saving and Democrat John L. Palmer broke with the Bush administration's trustees in saying Medicare needs attention before Social Security.

The annual trustees' report estimates the Social Security trust fund will run out of money in 2041. But Medicare's trust fund will be gone by 2020 -- 21 years before Social Security. (WashPost)

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