It’s time to take aim at claims being made regarding Social Security.
Analysis:I admire Mr. Roosevelt’s family loyalty, but this graph from the very first page of the Congressional Budget Office’s “Long-Term Projections for Social Security: 2009 Update” debunks Roosevelt’s claim.
Things got even worse since the 2009 CBO report, with the Old-Age and Survivors Insurance portion (the main part of SocSecurity) running primary (cash) deficits now, or that the Disability Insurance “Trust Fund”, which is now in the final stage of collapse as both tax revenues and interest are not enough to cover the costs, will be fully-exhausted well before 2020.
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- Speaking of SocSecurity, the preliminary June 2010 update (norunnyeggs.com)