Reading Around on February 26th through February 27th

A few interesting links collected February 26th through February 27th:

  • There Is No Social Security Crisis | The American Prospect – When does the Social Security trust fund run out in that case? Never. It never runs out (here’s the graph, if you’re interested).

    The Social Security trustees aren’t the only ones who have tried to crunch these numbers; the Congressional Budget Office estimates that the trust fund will be exhausted in 2049, not 2041, and that at that point tax revenues will cover 84 percent of benefits, not 78 percent. But looking at all the various projections, one has to conclude the following:

    At some point, somewhere between 30 and 70 years in the future, the Social Security trust fund may be exhausted. If it is exhausted and taxes are not raised, beneficiaries will see a reduction in benefits that will be meaningful, though not catastrophic.

  • Chicago Closer to High-Speed Hub Reality? – Chicagoist: Chicago News, Food, Arts & Events – Awesome, let’s hope this happens. “it seems like a battle is shaping up for who will get the biggest slice of the transit pie as U.S. Senate Leader Harry Reid (of Nevada) will be making a play for his area, but he’ll be going up against Illinois’ own…President Obama. The Midwest line also has the Federal Railroad Administration on its side thanks to a layout that would connect up to 11 major metro areas (St. Louis, the Twin Cities, Detroit, Cleveland, Cincinnati, etc) within a 400 miles of Chicago, the proposed hub. As for what kind of train would be used, while Amtrak was batted about for the Midwest, the “Sin Express” folks are looking into maglev technology, a system which uses magnets to cause trains to levitate that is currently in use in Shanghai.”

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