Democrats: "With Planning And Effort, We Believe We Can Stop Our Unfortunate Winning Streak"

It's good to see that even before the new congress is sworn in, the Democrats are exploring ways to return to the minority as soon as possible:

Raising retirement age or reducing benefits can't be ruled out if the Social Security system is to be saved from going bust, Rep. Charles Rangel said yesterday. "All of these things are on the table to find some way to make certain that Social Security is solvent," said Rangel, who is poised to take control of the powerful House Ways and Means Committee.

Rangel added, "While this would be deeply unpopular with most Americans as well as unnecessary, I know a few people who'd think it was really great." Rangel then reached into his pocket and produced a small graph:

Contributions To Charles Rangel, 2006 Election Cycle

This part of the story's good, too:

Rangel (D-Harlem) discussed the fate of Social SecurityÃƒÂ¢Ã¢â€šÂ¬Ã¢â‚¬Âwhich some have estimated will have a cash-flow problem as soon as 2017 and run out of money by 2040ÃƒÂ¢Ã¢â€šÂ¬Ã¢â‚¬Âduring a Manhattan breakfast talk sponsored by Crain's New York.

Yes: 21 words, three mistakes, for an impressive one mistake every seven words ratio.

1. These dates don't come from "some people," but rather from the intermediate projection of the Social Security Trustees Report.

2. The SS report doesn't project Social Security will have a "cash-flow problem" starting in 2017. Rather, that's when SS will begin redeeming its Trust Fund. SS will no more have a cash-flow problem in 2017 than Bill Gates does when he cashes government bonds.

3. The SS doesn't project Social Security will "run out of money" in 2040. Rather, that's the date it projects the Trust Fund will be exhausted. However, SS will still have gigantic amounts of tax revenue coming inÃƒÂ¢Ã¢â€šÂ¬Ã¢â‚¬Âenough to pay higher benefits than people get today, though not enough (according to this projection) to cover promised benefits, which increase in real terms over time.

Anyway, I'd thought the elections would chasten our political class enough they would give us a few months respite before they reopened their Wonderchest Of Horrible Ideas. Clearly I thought wrong.

SEE ALSO: Dean Baker on what NPR's Marketplace says "everyone" thinks about Social Security.

(Rangel story via David Sirota)