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NBC's Yang falsely asserted "Social Security will run out of money by 2041"
Summary: NBC correspondent John Yang falsely asserted, "At current rates, analysts say Social Security will run out of money by 2041." Later, Yang uncritically aired a clip of Sen. John McCain claiming, "The Social Security system is going to go broke; it will not be there for present-day men and women who are working." In fact, the Social Security program will not "run out of money" in 2041; after that point, it is projected that without a change in the law, the program will be able to cover 78 percent of scheduled benefits immediately thereafter, according to the 2008 Social Security trustees' report.
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Posted by worrierking
Yang is criticizing Obama's plan because it increases the payroll tax on those earning more than $250,000 per year and suggests that everyone else work until they're 67 instead.
So everyone is going to have to work longer rather than making those poor people who make over a quarter of a million dollars per year pay more.
Sounds like class warfare to me.
Posted Friday October 3, 2008 4:29:48 PM EDT / Flag this comment
Posted by snoopy in reply to worrierking
Considering Palin thinks the world is 6,000 years old and Robertson is convinced armegeddon is gonna happen in our lifetime, why wouldn't republicans push for risking everything in the stockmarket? As long as they get theirs in this lifetime they couldn't care less if Robertson et al ends up being wrong, it'll be someone elses problem.
Posted Friday October 3, 2008 4:38:46 PM EDT / Flag this comment
Posted by JLyons
Posted Friday October 3, 2008 4:39:56 PM EDT / Flag this comment
Posted by snoopy in reply to JLyons
If that picture is correct, he's looking at the building that houses his SS check. "My money's in there, I know it is! I want it now, dammit! It's mine! Gives me the precious!"
Posted Friday October 3, 2008 4:49:11 PM EDT / Flag this comment
Posted by shaggles
Posted Friday October 3, 2008 6:00:21 PM EDT / Flag this comment
Posted by oscar the grouch in reply to shaggles
I have even a better idea. I'm emailing my children and grandchildren and telling them that starting in 2041, they can settle their financial obligations for $.78 on the Dollar!!
Posted Friday October 3, 2008 8:53:50 PM EDT / Flag this comment