Detailed text transcripts for TV channel - FOXNEWS - 2012042

Detailed text transcripts for TV channel - FOXNEWS - 20120423:23:51:00

depend on, they say will go broke in 2016, 2 years sooner than expected. it could be covered by the social security retirement trust fund, but that will go fwroak in 2023. gite despite said, this is bad news. >> the projections in this year's report are more pessimistic than last year's projections. it emphasizes the consensus of reforms to put these programs on a sounder financial footing. >> shepard: so that's the good news, the secretary was emphasizing that we have 20 years to figure this out before social security really runs into an any kind of a major problem. the challenge, of course, is that congress, with both parties, has shown no willing tons fix this. >> shepard: medicare going broke, too. but the government's calling that good news? >> they are saying, basically, it's less bad because of the fact that it has not changed since last year's projection, which said it would go broke in 2024, same projection, going

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