Dave wrote:
Wolfie" said:

Congress can always increase or decrease benefits
whenever they want. "Pay-as-you-go" is, IMO,
more appropriate when you can't forecast any
future liabilities to any degree of accuracy.

Lesse...when was the last time they reduced benefits?

Several times in the past few years, although not on
Social Security payments. They do cut benefits, however.

There really isn't any excuse for pay as you go accounting.

Accounting is accounting -- it's just a way of keeping track.
Regardless of the budget implications the problems with
Social Security in the long-term are well-known and
tracked effectively. The government publishes different
views on the same overall financial situation -- so does
pretty much everyone else. It's just that the view which
"squeaks the loudest" contains a "pay-as-you-go" view
of Social Security.