ST. LOUIS — Social Security Commissioner Michael Astrue is hopeful the Obama administration will address the solvency of the Social Security system before the 2012 elections.
Astrue spoke Monday to business leaders at Washington University in St. Louis.
Astrue said the new administration is dealing with the economy and other issues first. But, he said, the desire to fix Social Security "is very high." He declined to speculate on exactly what the administration will do to address the problem.
Astrue said he believes Social Security is not in as dire a situation as some in the public believe. Without changes, the system would become insolvent by around 2041. Astrue said the administration should try to secure the system through about 2065.