Thursday, March 25, 2010

Social Security Is Now Over, Not At, The Brink

The Chief Actuary of the Social Security Administration revealed yesterday that Social Security will pay out more in benefits this year than it will take in from payroll taxes.  The non-partisan Congressional Budget Office had previously estimated that this threshold would not be crossed until 2016, and that the program would not exhaust its funds until 2037.  You can read the entire New York Times article about this today HERE.

It's such a cynical, political maneuver to hold this revelation until after President Obama signed his landmark health-care reform legislation into law; another example, I think, of the disappointing failure of the President to fulfill his campaign pledge to end "politics as usual in Washington."

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