Archive for February 4th, 2010
Thursday, 4 February 2010 by dbhalling in Uncategorized • 2 Comments
An excellent article, by Allan Sloan, of Fortune states that the next bailout will be Social Security. The article, Next in Line For a Bailout: Social Security, states
Social Security hasn’t been cash-negative since the early 1980s, when it came so close to running out of money that it was making plans to stop sending out benefit checks. That led to the famous Greenspan Commission report, which recommended trimming benefits and raising taxes, which Congress did. Those actions produced hefty cash surpluses, which until this year have helped finance the rest of the government.
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