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This blogpost originally appeared on Fix SS Now.
Milton Friedman once observed, “If the government ran the Sahara, in five years there would be a shortage of sand.” He is right. The government has run Social Security for 70 years, and now there is a shortage of security. Today more than 80% of Americans believe that Social Security is heading for crisis if the government does not implement a major reform. So a system that is supposed to provide security, now it only provides uncertainty for the vast majority of Americans.
This blogpost originally appeared on Fix SS Now, on May 28, 2012.
In April, the Trustees of the Social Security Trust Fund released a dismal report which Michael J. Astrue, Commissioner of Social Security, described as troubling. The media compressed the report into a byline: "Social Security Shortens Timeline For Trust Fund By 3 Years". The public further shortened the hundreds of pages of report into 4 digits: 2033.