According to a new report from the Social Security trustees, the behemoth entitlement program’s trust fund will run a negative balance some time in 2035, but that’s a bit misleading. First, the program’s obligations are more than the program’s tax collections, meaning that the entire program is running in the red. This means that in [...]
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At Bloomberg Business Week, the distortion of what the Social Security system's trustees told the public on Monday began with its headline and opening sentence. The headline: "Social Security Fund to Run Out in '35: Trustees." Any r... Read Post
The Social Security Board of Trustees today released its annual report on the financial health of the Social Security Trust Funds. The good news: the program has $69 billion in annual surplus in 2011; the projected trust fund balanc... Read Post
In 2010, the Social Security Trustees Report said Social Security would be able to fulfill all current obligations until 2036. In 2011, that estimate was bumped to 2035, and this year it was changed to 2033. Clearly, the program m... Read Post