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Social Security Looks More Secure


In Business This Week

SOCIAL SECURITY LOOKS MORE SECURE

THE STRONG ECONOMY IS GIVING Social Security more breathing room. On Apr. 28, the national retirement system's trustees said that the fund would remain in the black until 2032--three years later than the actuaries' previous predictions. President Clinton, who cautioned that he still wants budget surpluses applied to a Social Security fix, hailed the report. The news wasn't as well-received over at the Cato Institute, a libertarian think tank. Hours before the figures were unveiled, Cato had issued a release that predicted: "It is likely that this report will indicate that Social Security is going broke more quickly." A red-faced flack at the think tank says the forecast was based on a rumor--one thing from which Washington never suffers a deficit.EDITED BY PAT WECHSLER


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