Sunday, October 30, 2011

Social Security is cash negative

Social Security went "cash negative" last year. Instead of loaning money to the government, it is sucking money out of the treasury. The cost of benefits exceeds tax collections. Sure, there's the $2.6 trillion trust fund, but the government has already borrowed every cent of it. Despite what politicians tell you, the program is not flush. Nor can the fix wait for years.

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