JUDY WOODRUFF: But, Sen. Conrad, speaking of outside groups, the loudest criticism we're hearing in the last couple of days since your plan has surfaced is coming from liberal groups, who are saying it asks sacrifices from the middle class, while giving tax breaks to the high-income earners and corporations.
SEN. KENT CONRAD: Well, they have got it wrong.
Clearly, they have not read the plan or apparently don't understand it, because that's not what the plan does. What the plan does do is face up to the reality we're borrowing 41 cents of every dollar that we spend, that revenue is the lowest it's been as a share of our national income in 60 years, that spending is the highest it's been as a share of our national income in 60 years.
That means you have got to work both sides of the equation. And we have done that, and we have done that in a careful and fair way. And, at the end of the day, I think they will look back, once they understand the plan better, and realize this is as good a deal as they're going to get.
Look, the harsh reality is this. A failure to rightsize the entitlement programs means they are going to go broke. That's not our word. That's the word of the trustees of the programs themselves. Anybody that says you don't have to make any change is not telling the American people the truth.He is such a liar and he has tried to destroy Social Security for years now.
Here is FactCheck.org taking on Mr. Conrad:
Social Security’s Insecure Funding
Over on ABC’s "This Week," Sen. Kent Conrad had this to say about the future of the Social Security system:
Conrad, Nov. 14: And are we going to have to make some changes to Social Security? Certainly we are. Social Security is going to go cash negative in five years. It’s going to go broke in 2037.
Actually, program costs are projected to exceed tax revenues this year and in 2011, according to the 2010 report from the Social Security and Medicare Boards of Trustees. The 2009 report had projected that wouldn’t happen until at least 2016. Tax revenues are predicted to once again exceed program costs in 2012 through 2014 before permanently falling below costs in 2015.
A Senate Budget Committee spokesman said that Conrad, a Democrat from North Dakota, was emphasizing the negative balance over the long term rather than the temporary effects in 2010 and 2011 caused by the recession.
The 2010 trustees report also says that Social Security’s combined trust funds, or reserves, will in fact be exhausted in 2037. But the Social Security system won’t be completely "broke" as Conrad claimed. The program is currently projected to still be able to pay at least 75 percent of benefits in 2037 and subsequent years from Social Security taxes alone.
And that is from November 15, 2010. He just keeps lying. Over and over. Even when the error is obvious and corrected.
This is C.I.'s "Iraq snapshot" for today: