Social Security
TOPIC:
Tools » Institutions » National » USA » Dom. Policies » Social » Social Security
Category
articles
Date
2010-03-24
Actor
Biggs, Andrew, et al...
Source
New York Times
Uploaded date
2013-03-18
Uploaded by
Jakob Lohmann
Link
Simple Steps to Fix Social Security
"With millions of jobs disappearing in this recession and more people taking early retirement, Social Security is expected to pay out more in benefits in 2010 than it takes in in payroll taxes, an event that wasn’t expected until 2016. This effect may be reversed as the recession eases, but this tipping point reminds us of where things are headed. With more baby boomers retiring, by the end of this decade outlays will exceed revenues every year regardless of the condition of the economy. By 2037, Social Security’s surplus, currently at $2.5 trillion, will be exhausted." (Quoted from the article)
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