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A Look At The Social Security Surplus

Well, no need to worry about 2017 anymore. Thanks to the worst economic downturn since the 1930s, the moment of reckoning is already almost here: according to both the budget proposed by the White House in February and projections issued by the Congressional Budget Office (CBO) in March, Social Security benefits ($659 billion, according to the CBO) will exceed payroll taxes ($653 billion) in fiscal 2009 for the first time since 1984.

Social Security's Surplus Disappearing Fast at www.TIME.com

Posted on Friday, April 17 by Registered CommenterWise Owl | Comments Off