Social Security: Falling Apart Faster Than Previously Thought
This past week, the Congressional Budget Office updated its annual projections on the health of Social Security - Spending to Double over Decade and Disability Claims Rising.
It's no surprise that Social Security is in trouble. But a DailyFinance report says there's some shocking news coming from the Congressional Budget Office's annual projections on the health of Social Security and its Trust Funds. The main takeaways: Social Security is failing faster than last year's dire projection, Social Security spending will nearly double over the next decade and disability claims are high and rising. The report provides data and charts that say the future is ugly, calling the latest Social Security news "a stern warning of a pending financial catastrophe for a program that over 50 million Americans currently rely on — and nearly everyone working in the country expects to receive." "Either taxes are going to skyrocket…
Marlene Mitchell
2:10 pm on Sunday, February 17, 2013
I guess I get a little pissy when the Government and the press try to make the people who paid into the SS system feel guilty about wanting their money when it was originally promised. They act like WE are sucking the system dry when it has already been done by the government that should have protecting it. JMNSHO :( more ›