Thursday, August 16, 2001

Social Security Budget Revised Social Security Budget Revised The Bush administration says a change in budget accounting methods will make $4.3 billion in Social Security funds available for general spending or tax cuts. The change, which involves the manner in which payroll-tax revenues are calculated, would technically allow the White House and Congress to spend the money while maintaining their commitment to only use Social Security surplus funds to pay retirees and reduce the national debt. The accounting change comes at a time when officials in Washington are predicting the surplus for the entire federal budget will be much lower than expected because of the slowing economy. http://www.publicagenda.org/headlines/headline.htm