Try paying only 74% of your taxes

John Kerry: ''Have you heard that Social Security is going to be bankrupt by 2042 or 2052?" he asked. ''Well, it's not true."

Social Security and Medicare Board of Trustees: “Projected OASDI tax income will begin to fall short of outlays in 2017 and will be sufficient to finance only 74 percent of scheduled annual benefits by 2041, when the combined OASDI trust fund is projected to be exhausted.”

I suppose we can argue about the definition of “bankruptcy” but if you told a judge you could only pay your creditors 74 cents on the dollar, he would declare you “bankrupt.”