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Archive for April 21st, 2012

CNN’s Own Chart Disproves CNN Claim About Social Security’s Alleged Cost

Posted by Phoenix Woman on April 21, 2012

Propaganda spewage fail:

CNN Money published an article today on Social Security and Medicare that, as is characteristic of mainstream reporting on these programs, misinforms readers about the country’s long-term fiscal picture. Fortunately, the misinformation can be easily debunked — in part, by looking at the chart CNN used with the article.

The very first words of the article were: “Critical to reining in the United States’ long-term debt will be finding ways to control the burgeoning costs of Medicare and Social Security, both of which will face serious funding shortfalls over the next two decades.”

But the graph that accompanied the article showed a different story — namely, that it was Medicare’s costs, not Social Security’s, that are skyrocketing, and Medicare’s costs are skyrocketing because health care costs are skyrocketing. As Media Matters goes on to state:

This is one of the most common and pernicious pieces of misinformation surrounding Social Security, the nearly universal social insurance program that keeps 20 million Americans out of poverty. The CNN Money article conflates spending on Social Security and Medicare, asserting that it is “[c]ritical” for the costs of both programs to be “control[led]” if the U.S. is to overcome its long-term debt challenges. This is false.

The truth about long-term Social Security costs is that they are projected to rise slightly in the coming decades, stabilizing at just over 6 percent of GDP for the next 75 years. There is no legitimate reason to conflate Social Security and Medicare when talking about spending and debt.

But the austerity jackals want to feast on our bones, and their allies in the establishment media eagerly assist them in this endeavor.

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