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Social Security goes cash negative this year
The bills are coming due.

A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.

Instead of helping to finance the rest of the government, as it has done for decades, our nation's biggest social program needs help from the Treasury to keep benefit checks from bouncing -- in other words, a taxpayer bailout.

This is one of those shady fiscal maneuvers that the politicos never mention when they say things like "a balanced budget in 2000."

Social Security could have been "saved" years ago if the money had been invested instead of put in the general fund of the Treasury. It wouldn't have taken much thought, just an even split between various bonds and the top seven of the Dow Jones 40.

Instead, the money went to cover current operating costs.

If a company had done that with it's pension fund, it would have been illegal and the company officers would have been arrested and tried.

Shouldn't we do that for Congress and every living President?

— NeoWayland

Posted: Mon - February 8, 2010 at 12:50 PM  Tag


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