Mac Collins, Fayette's representative in the U.S. House, said this week that findings of the bipartisan Task Force on Social Security reveal that the program is in worse financial shape than previously believed.

“We have different approaches to solving the problem, but we are all agreed that Social Security faces dire problems in the first half of the 21st century,” said the Hampton Republican, who is a member of the task force.

Republicans and Democrats jointly announced 18 bipartisan findings of the task force last Thursday.

In the report, said Collins, experts have testified that Social Security's actuaries have underestimated the likely advances in life expectancy, which means there is even greater urgency to find a solution.

Rep. Nick Smith, R-Mich., chairman of the task force, said, “The Task Force was composed of Democrats and Republicans representing different areas and political beliefs, but we all agree that time is of the essence to ensure that Social Security is strengthened and preserved for future generations.”

Hearings and briefings began last spring and included statements from Alan Greenspan, chairman of the Federal Reserve Board, Lawrence Summers, secretary of the Treasury, and other national experts. There were a total of 15 hearings and briefings.

“The Task Force report shows that Social Security will begin paying out more than it takes in beginning around the year 2014,” Smith said. “It will have drained all of the trust fund by approximately 2030. After that, the fund will begin devouring a larger and larger percentage of the government's budget. This is too big a problem to waste time on partisan politics. We need to work together toward a solution, and take the best ideas from each side to come up with a long-term solution.”

Members of the Task Force are Collins and Smith; ranking member Rep. Lynn Rivers, D-Mich.; Rep. Wally Herger, R-Calif.; Rep. Ken Bentsen, D-Texas; Rep. Eva Clayton, D-N.C.; Rep. Paul Ryan, R-Wis.; Rep. Rush Holt, D-N.J., and Rep. Pat Toomey, R-Pa.