by Harry Targ
The Lafayette, Indiana Journal and Courier, a Gannett Newspaper, printed an Associated Press story, Monday, August 13, on the front page above the fold, entitled“Little Security for Program’s Payouts.” It warned that Social Security would be in financial crisis by 2033.
The $2.7 trillion surplus in the fund, the story suggested “is starting to look small.” The story did admit that for thirty years the social security fund received more in taxes than it paid out to eligible recipients. But it raised the fear that the balance sheet would undoubtedly change in the future. In addition, the story indirectly blamed Social Security for federal deficits by suggesting that“surpluses also helped mask the size of the budget deficit being generated by the rest of the federal government.”