Wednesday, January 9, 2013

ANALYSIS: SOCIAL SECURITY BROKE IN 18 YEARS

Not mentioned in the article is the fact that the 2031 number is based on the Social Security Trust Fund. In reality, Social Security is a pay-as-you-go system which has no money set aside. All of its payments come from the general Treasury. Since 2010, the government has spent more than it takes in through payroll taxes. Over the next ten years, the total amount the government will have to fund to keep current is $355 billion.