I was very disappointed to read Bill Carlino's opinion article on Social Security reform ("Social Security reform: An oxymoron?" Accounting Today, Jan. 24-Feb. 6, 2005, p. 6). It seems he has been seriously misled. His article states, "I don't pretend to be an expert on the Social Security system, but you don't have to be an economist to discern that there are sinkhole-sized problems that need to be addressed rather quickly."
The Los Angeles Times reported recently that, "By 2042, according to the Bush administration - the Congressional Budget Office predicts 2052 - the system is projected to fall short of money to pay all of the promised benefits."
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