Saturday, August 07, 2010

Lying About SS Shortfalls

Social Security: The myth of the Social Security system's financial shortfall - latimes.com: "...This year and next, the program's costs will exceed its take from the payroll tax and income tax on benefits. That's an artifact of the recession, and it's expected to reverse from 2012 through 2014. The difference is covered by the program's other income source — interest on the Treasury bonds in the Social Security trust fund.

That brings us back to this supposed $41-billion 'shortfall,' which exists only if you decide not to count interest due of about $118 billion.."

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