How Social Security Falls Short by 28% over the next 24 years

Posted by Kendall Harmon

Government accounting for Social Security has devolved over time from deceptive to dishonest to desperate.

The latest Social Security Trustees report says that benefit promises are fully financed until 2033 and three-fourths financed after that. In short: no crisis.

Here's the truth, embedded between the lines: At the current payroll tax rate, Social Security would only bring in enough revenue to pay for 72% of all benefits through 2036.

Read it all.

Filed under: * Culture-WatchAging / the Elderly* Economics, PoliticsEconomyThe U.S. GovernmentBudgetSocial SecurityThe National DeficitPolitics in GeneralHouse of RepresentativesOffice of the PresidentSenate

1 Comments Posted May 1, 2012 at 8:02 am

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