Bachus: Social Security may face deficit | TuscaloosaNews.com | The Tuscaloosa News | Tuscaloosa, AL: "TUSCALOOSA | Social Security could face a deficit within two years, according to U.S. Rep. Spencer Bachus who met with The Tuscaloosa News editorial board Tuesday.
“The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression,” said Bachus, R-Vestavia Hills, in an interview with the Tuscaloosa News editorial board.
Bachus, the ranking member of the House Committee on Financial Services, said most people seem unaware of the impending crisis. He initially said Social Security could face 'default' within two years, but his staff responded later saying the Congresssman intended to say 'deficit.'"
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