Vargas revived misinformation commonly reported in 2005 that Social Security will "run out of money" in early 2040s
May 03, 2006 5:49 pm ET
SUMMARY: ABC World News Tonight anchor Elizabeth Vargas -- repeating a false characterization by the Bush administration that has been repeatedly debunked -- described the revised estimates for when the Social Security and Medicare programs' respective trust funds will become depleted as "the day when the Social Security and Medicare programs run out of money." In fact, neither program would "run out of money" when its trust fund became depleted.
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