SocSec is well on its way to the tank.
Current projections are that it will pay out more in benefits than it takes in through taxes starting in about 2020. Since the so-called "Trust Fund" has been lent to the rest of the government, THERE IS NO stash of cash to pay benefits without demanding that the rest of the government pay back what it borrowed from SocSec. The only way to get that money back is for the rest of the government to decide to raise taxes, or at that point (not the 35-40 years the SocSec Administration always likes to refer to) start cutting benefits.
Current projections are that it will pay out more in benefits than it takes in through taxes starting in about 2020.
..Uh-huh. America is toast if we do this.
posted on 12/11/2003 9:02:47 PM PST
(Homeland Security + Tom Ridge = Open Borders --> Demand Change!)
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