"Until we sort out SS we need to fund it. At least this money gets returned if you live long enough."
I just saw this recently. Social Security: Its Worse Than You Think ( http://www.nytimes.com/2013/01/06/opinion/sunday/social-security-its-worse-than-you-think.html?_r=2&; ) CONGRESS and President Obama have pushed through a relatively modest stopgap measure to avoid the fiscal cliff, but over the coming years, the United States will confront another huge cliff: Social Security. In the first presidential debate, Mr. Obama described Social Security as structurally sound, and Mitt Romney said that neither the president nor I are proposing any changes to the program. It was a rare issue on which both men agreed and both were utterly wrong. For the first time in more than a quarter-century, Social Security ran a deficit in 2010: It spent $49 billion dollars more in benefits than it received in revenues, and drew from its trust funds to cover the shortfall. Those funds a $2.7 trillion buffer built in anticipation of retiring baby boomers will be exhausted by 2033, the government currently projects. Those facts are widely known. Whats not is that the Social Security Administration underestimates how long Americans will live and how much the trust funds will need to pay out to the tune of $800 billion by 2031, more than the current annual defense budget and that the trust funds will run out, if nothing is done, two years earlier than the government has predicted. J - Ninety percent of politicians give the other ten percent a bad reputation. - Henry Kissinger Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. - J ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:359761 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
