1 of 1- Common Sense
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Social Security's in worse shape than you thought: Study
Social Security's in worse shape than you thought: Study
Read the full study here:
The Social Security Administration projects that its trust funds will be depleted by 2033—not an optimistic forecast. But it may be even bleaker than that.New studies from Harvard and Dartmouth researchers find that the SSA's actuarial forecasts have been consistently overstating the financial health of the program's trust funds since 2000."These biases are getting bigger and they are substantial," said Gary King, co-author of the studies and director of Harvard's Institute for Quantitative Social Science. "[Social Security] is going to be insolvent before everyone thinks."
Last edited by Common Sense (5/11/2015 8:13 am)
“We hold these truths to be self-evident,” former vice president Biden said during a campaign event in Texas on Monday. "All men and women created by — you know, you know, the thing.”
- Just Fred
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Re: Social Security's in worse shape than you thought: Study
Ok, let's fix it. That's why we vote to employ people to represent us.
- tennyson
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Re: Social Security's in worse shape than you thought: Study
BTW, just so we all understand that the "Trust Fund being depleted in 2033" does NOT mean that SS cannot continue to payout. It just means that it cannot fund payouts at the current level. That still is not good news but it is not like money is not coming in.
Anyway, the "Trust Fund" is ALREADY spent. The "Trust Fund" is just US bonds (IOU's) that the SS Admin has. It is not like money socked away.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"