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  • Social Security Now Officially in the Red

    10/30/2011 4:58:03 AM PDT · by Stajack · 136 replies
    Washington Post ^ | October 29, 2011 | Lisa Montgomery
    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.