Here's a tidbit I had not heard: by law, the Social Security Trustees Report must be published by April 1st. It's still not out. From Forbes: "The (still) missing Social Security Annual Report."
The Social Security's trustees' annual report is, by law, supposed to be published by April 1. This year, however, the trustees have postponed its release indefinitely. The program's financial condition continues to remain hidden from public view--and by many accounts will continue to be so until the end of the fiscal year.Could it be that the most transparent Administration ever is holding back the report because it's bleeding red ink? Adjust your tin hats, everyone:
Given the lead times necessary to prepare the trustees' report, it is highly likely that a final draft report was readied by early March to meet the April 1 legal deadline. But the trustees' decision to table that report was clearly unopposed because Social Security currently has no confirmed public trustees. All of its current trustees are ex officio members of the Obama administration, leaving no one to register concern that delay would prevent the public from knowing how rapidly Social Security's finances are deteriorating.Somebody is breaking the law:
Another important reason to be concerned about the delay is that it flouts laws set by Congress about Social Security's reporting requirements. Under the Employee Retirement Income Security Act, private pension plan managers must also file many reports--with the federal government, employees and beneficiaries--under strict reporting deadlines.The Obama administration insists the delay is due to adjustments that need to be made factoring in new policies such as the health care reform bill. But they don't want to publish a report based on pre-legislation assumptions because it will make it too easy to compare the effects of Obamacare on the fiscal health of entitlements.
4 comments:
the trustees' decision to table that report was clearly unopposed because Social Security currently has no confirmed public trustees.
Robert Reischauer and Charles Blahous are still awaiting their SS trustee confirmation hearings from the Senate. This would be the same Senate which, long long ago, spoke so threateningly of using the "nuclear option" to break the minority Democrats' obstructionist refusal to agree to up-or-down votes.
by law, the Social Security Trustees Report must be published by April 1st.
The 2009 report was released on May 12. The 2007 report was released on April 23. The 2006 report was released on May 1. The 2005 report was released on May 5. This flagrant crime wave may explain our overcrowded prison system.
From this and others in the District of Criminality, SO NU?
On point #1 - Is there some reason the Democrat-controlled Senate can't move on nominations? Are they just lazy?
On point #2 - OK, so they've been a little late. It's mid-July now. Can't we have a peek?
Courtesy note: can you tell me where you found the report release dates? Thanks.
1. Typically, a nomination on ice is being blocked fro consideration by an anonymous "secret hold," which can be filed by any of the 100 Senators. In theory, a candidate who is supported by 99 Senators might never be allowed to come up for a vote. (Or more often, never be rubberstamp approved via "unanimous consent.")
It requires a minority of 41 Senators to block cloture on a nomination or bill. Whenever the 59-41 math appears insurmountable, the majority party usually tables the effort until another day. In many cases, that day still hasn't come.
2. The last five years' worth of dates that I checked are on Google. It's as easy as "Social Security" + trustee + report + the year in question.
Some more sample dates for the reports' releases are:
1953: May 20
1963: March 6
1973: July 16
1983: June 27
1993: April 7
2003: March 17
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