1 Trillion Dollars Missing From Social Security Trust Fund
The outlook for Social Security's trust fund has deteriorated to an astonishing degree over the past year, new Congressional Budget Office projections show.
The nonpartisan budget scorekeeper released the estimates Tuesday as part of broader economic and budget forecasts. CBO expects the trust fund to peak in 2018 and decline to $2.7 trillion in 2022 — a full $1 trillion less than Social Security's own actuaries predicted last year.
The new trajectory suggests that the trust fund's current depletion date of 2036 may jump ahead several years when Social Security's trustees release their annual report this spring, making the retirement program more central to the 2012 election.
Read The Full Story At Investors Business Daily
The nonpartisan budget scorekeeper released the estimates Tuesday as part of broader economic and budget forecasts. CBO expects the trust fund to peak in 2018 and decline to $2.7 trillion in 2022 — a full $1 trillion less than Social Security's own actuaries predicted last year.
The new trajectory suggests that the trust fund's current depletion date of 2036 may jump ahead several years when Social Security's trustees release their annual report this spring, making the retirement program more central to the 2012 election.
Read The Full Story At Investors Business Daily
Accounting has never been the government's strong point. Accountability is even more elusive. Starting a program that is susceptible to fraud and corruption and is doomed to end up bankrupt was irresponsible . Pretending it can be sustained is simply dishonest and despicable. The inevitable is evaded and the typical politician continues to pretend he or she will get away with perpetuating this fraud. The Columbus skeptics were right after all. We will fall off the edge of the earth.
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