Friday, August 23, 2013

I hear what you're puttin' down but nobody's pickin' it up

Time: "Fix Social Security now - or pay a stiff price."  "Social Security has already passed one important milestone on the road to insolvency: The program pays more in benefits than it generates in revenue. Another milestone is fast approaching: By 2033, the cumulative Social Security surplus (excess money collected over the decades and invested in Treasury bonds) will run dry. At that point, all beneficiaries regardless of age or income will face an immediate 23% benefits cut."

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