WASHINGTON, March 23 (Reuters) - The financial outlook for the U.S. Social Security and Medicare program trust funds remained little changed in an annual report on Wednesday, providing little fresh momentum for the Bush administration's warnings of a looming crisis for the retirement system.
"I don't see anything in this report that says, oh my heavens, this is a crisis that we need to address tomorrow," said Kenneth Apfel, Social Security commissioner from 1997 to 2001 under former President Clinton.
"There is a moderate problem that we need to address, but radical restructuring is not called for by the size of the problem," he said.
The annual report of the fund trustees, who include three cabinet secretaries in the Bush administration, said there had been "no important change in the financial outlook for either Social Security or Medicare."
Two trustees who are not Bush administration officials said in a separate statement that the outlook for Social Security has in fact improved slightly over the last five years.
The report comes as President George W. Bush and his cabinet urge the public, in a series of appearances around the country, to support plans to overhaul the government retirement system as the U.S. population ages.
Yawn. Social Security is still just fine, folks...
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