Social Security Cash Negative
Last Updated on Thursday, 4 February 2010 10:10
Written by dbhalling Thursday, 4 February 2010 10:10 |
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.
Dale,
How does the government bail itself out?
Kevin
Kevin,
The answer is probably a combination of things. However, any solution has to include getting our economy to start growing again. Great Britian and Chile have both found ways to ease the burden of government retirement programs by providing their citizens with options on where to invest their retirement dollars.