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Byline: SEAN HIGGINS
"No! No! No!" shouted Democrats when President Bush said in his State of the Union address that Social Security would be bankrupt by 2042.
"Under current projections, Social Security will never go bankrupt. Social Security faces a long-term funding challenge. But it is adequately funded until 2052," said the House Ways and Means Committee's Democratic staff in a press release just after the speech.
That argument is a favorite of Democratic critics of Bush's Social Security agenda. But is it correct? Bush and fans of his reforms say the program will start running a deficit as early as 2018. So do many independent experts and economists.
The issue may seem arcane, but it is crucial to the debate over Social Security reform. It is doubtful that Bush can succeed with his plans to create personal …