October 30, 2011

UNEXPECTEDLY! The debt fallout: How Social Security went ‘cash negative’ earlier than expected. “Now, Social Security is sucking money out of the Treasury. This year, it will add a projected $46 billion to the nation’s budget problems, according to projections by system trustees. Replacing cash lost to a one-year payroll tax holiday will require an additional $105 billion. If the payroll tax break is expanded next year, as President Obama has proposed, Social Security will need an extra $267 billion to pay promised benefits.”

Has anybody looked in Al Gore’s “lockbox?”

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