NU Online News Service, March 24, 2004, 12:29 p.m. EST – A liberal think tank says the Bush administration is trying to promote privatization efforts by exaggerating the size of the problems facing the Medicare and Social Security trust funds.[@@]
Administration officials warned Tuesday that the trust funds will face a combined shortfall of about $50 trillion over an “infinite time horizon.”
Officials also argued that the date when the Medicare hospital insurance trust fund could run dry might arrive as early as 2019. A year earlier, officials predicted the fund would be insolvent in 2026.