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Keyword: 13trillion

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  • $13 trillion deficit looms for Social Security

    09/26/2007 6:18:35 PM PDT · by Libloather · 71 replies · 594+ views
    NY Daily News ^ | 9/25/07
    $13 trillion deficit looms for Social SecurityTuesday, September 25th 2007, 4:00 AM WASHINGTON - The Bush administration said in a new report yesterday that Social Security is facing a $13.6 trillion shortfall in coming years and that delaying reforms is not fair to younger workers. A report issued by the Treasury Department said that some combination of benefit cuts and tax increases will need to be considered to permanently fix the funding shortfall. White House officials stressed that the President is opposed to new taxes. Treasury Secretary Henry Paulson said he hoped the new report would help find common ground...