http://www.nytimes.com/2006/05/08/opinion/08mon2.html

Excerpt:
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Buried in the newly released 2006 annual report on Social Security,
there is good news on the program's long-term health. But don't expect
to hear President Bush talking about it. His main comment on the new
report is that the system is "going broke." He apparently still wants
people to believe that their only options are ending up with nothing
from the government in old age or relying on financial markets. That's
a false choice and Americans recognized it as such when they rejected
his push last year for private accounts.

Projected "cost rates" in this year's report show smaller annual
deficits in Social Security than had previously been assumed, starting
around mid-century. The 75-year projection ends in 2080 with a
shortfall that is less than last year's estimates by $57 billion, in
today's dollars. That's important, because the smaller the deficit,
the less drastic the reforms needed to keep the program going strong.
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