(AP) New projection shows Social Security funds drained by 2037

Posted by Kendall Harmon

Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday....

Read it all.

Filed under: * Culture-WatchAging / the Elderly* Economics, PoliticsEconomyTaxesThe U.S. GovernmentBudgetSocial SecurityThe National Deficit* International News & CommentaryAmerica/U.S.A.

Posted January 27, 2011 at 7:22 am [Printer Friendly] [Print w/ comments]

1. Sick & Tired of Nuance wrote:


January 27, 9:41 pm | [comment link]
Registered members must log in to comment.

Next entry (above): The Episcopal Bishop of Virginia’s Pastoral Address to Diocesan Council

Previous entry (below): AP: Some South Sudanese believe Bible backs vote for Independence

Return to blog homepage

Return to Mobile view (headlines)