{"id":36763,"date":"2013-01-14T17:30:54","date_gmt":"2013-01-14T17:30:54","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/ibd_social_security_a_big_deficit_driver\/"},"modified":"2013-01-14T17:30:54","modified_gmt":"2013-01-14T17:30:54","slug":"ibd_social_security_a_big_deficit_driver","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=36763","title":{"rendered":"(IBD) Social Security A Big Deficit Driver"},"content":{"rendered":"<p>The Congressional Budget Office projects that over the next decade Social Security&#8217;s annual cash deficit will rise by nearly $100 billion, reaching $155 billion a year. The cost of servicing the extra public debt tied to cashing in $1 trillion worth of Social Security&#8217;s intragovernmental IOUs over the 10 years would add $40 billion to the deficit in 2022 alone, an IBD analysis finds.<\/p>\n<p>Overall, Social Security would account for nearly $200 billion in annual deficits or nearly 20% of the $1 trillion-plus deficit that would occur under current policies, including fiscal-cliff tax hikes.<\/p>\n<p>Then, over the following decade, the retirement program&#8217;s impact on deficits would really balloon.<\/p>\n<p><a href=\"http:\/\/news.investors.com\/010913-639953-social-security-will-add-200-billion-to-deficit-in-2022.aspx\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congressional Budget Office projects that over the next decade Social Security&#8217;s annual cash deficit will rise by nearly $100 billion, reaching $155 billion a year. The cost of servicing the extra public debt tied to cashing in $1 trillion<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=36763\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,103,670,149,133,617,616,151,667,618,673,669,584],"tags":[],"class_list":["post-36763","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-aging-the-elderly","category-budget","category-economy","category-history","category-house-of-representatives","category-office-of-the-president","category-politics-in-general","category-president-barack-obama","category-senate","category-social-security","category-the-national-deficit","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/36763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36763"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/36763\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}