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

Posted on May 1, 2012 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.

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Posted in * Culture-Watch, * Economics, Politics, Aging / the Elderly, Budget, Economy, House of Representatives, Office of the President, Politics in General, Senate, Social Security, The National Deficit, The U.S. Government

One comment on “How Social Security Falls Short by 28% over the next 24 years”

  1. Militaris Artifex says:
    May 2, 2012 at 4:57 pm

    Prepare for the next Great Depression, coming to a city, town or village near you. Opening date and special events TBD.

    [i]Pax et bonum[/i],
    Keith Töpfer