Social Security Runs Out Of Money In 2010

Social Security Outlays Will Exceed Revenue For The First Time In 25 Years

A report from the Congressional Budge Office (CBO) which confirms that in 2010, Social Security outlays will exceed revenue for the first time in 25 years. The CBO report shows that Social Security will earn $120 billion in interest on its trust fund, which would seem to cover its $92 billion surplus. The interest does not constitute funds with which to pay benefits. It is nothing more than IOUs from the Treasury which is broke..continued....

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