Bush administration officials have pounced on a recent report from the Social Security trustees that predicts problems in the program starting in 2017. But according to Max Sawicky, an economist for the Economic Policy Institute, the supposed problem with Social Security pales when compared budget deficit created by the administration's tax cuts.

[Sawicky1]: The overwhelmingly major factor in deficits currently and in the long-term is the tax cuts enacted since 2000.

After crunching the numbers Sawicky found that the Social Security shortfall could reach 1.37 percent of the Gross Domestic Product by 2042, while the overall budget deficit shortfall will account for 10.7 percent of the GDP.

[Sawicky2]: We have to get back the lion's share of the money lost from those tax cuts. Because otherwise the government will have trouble paying not much later, but in the near future for Social Security and Medicare.