Monday, August 20, 2012

How big is Social Security's funding shortfall?

Social Security--at least some people are starting to talk about it:

How big is Social Security's funding shortfall?
Over the next 75 years, after Social Security drains its trust funds, the massive program is scheduled to pay out $134 trillion more in benefits than it will collect in tax revenue, according to agency data. That's an immense number that could use ...

Social Security surplus dwarfed by future deficit
As millions of baby boomers flood Social Security with applications for benefits, the program's $2.7 trillion surplus is starting to look small. For nearly three decades Social Security produced big surpluses, collecting more in taxes from workers than ...

FACTCHECK: Social Security adds to budget deficit
Associated Press. WASHINGTON (AP) - Now that Social Security is paying more in benefits than it collects in taxes, there is a fierce debate among politicians, academics and advocates about whether those shortfalls are adding to the federal budget deficit.

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