The following appeared in Money News:
This year, the system will pay out more in benefits to retirees than it receives in payroll taxes.
This threshold wasn’t expected to be crossed until 2016, according to the Congressional Budget Office.
Chief actuary of the Social Security Administration, Stephen Goss, said the problem is that the Social Security payouts have risen more than expected because retirees have begun applying for benefits sooner than planned. . . and because millions of jobs have disappeared (leaving fewer paychecks to tax).
Similar articles appear frequently broaching the subject of the future insolvency of Social Security as well as Medicare.
Knowing this begs the question, Why are we taking $58 billion dollars from Social Security to pay for the new healthcare reform bill?
Is there a reason why the government wants to hasten the demise of Social Security? you know…(the system that you have been paying into for these many years)
What is your take on this situation?
