Social Security is Broke

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	Social Security is Broke

jay8h

9-9-2009 2:41 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f9b92360-cb7e-4dd3-a433-27c9b90d3a64/BB3458BF-BD6C-4D89-BFC6-01EF449B7B9F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke" href="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke" style="font-size: 11px;">thehill.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke"><H1 class="title">Social Security is Broke</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke"><DIV>While we debate the pros and cons of a trillion-dollar-plus health care
overhaul here in the House, it's important to come to terms with the
rising financial commitment already facing our nation and future
generations. </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke"><DIV>For instance, according to <A mce_href="http://www.cbo.gov/ftpdocs/105xx/doc10521/08-25-BudgetUpdate.pdf" href="http://www.cbo.gov/ftpdocs/105xx/doc10521/08-25-BudgetUpdate.pdf" mce_style="style">a report just released</A> by the non-partisan Congressional Budget Office (CBO), Social Security is broke.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thehill.com/blogs/congress-blog/economy-a-budget/57883-social-security-is-broke"><DIV>The
CBO now projects that Social Security’s costs will exceed tax income in
2010 (next year!) and 2011, with cash surpluses returning over the
2012-2015 period and becoming negative again beginning in 2016 and
later.  In their March 2009 estimates, the CBO projected that the cash
surplus would be positive through 2016.  Keep in mind that these
projections are based on what many economists of all stripes believe
are far-too-rosy White House budget numbers.  It's a very real
possibility that a positive cash surplus may not occur at all.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/BB3458BF-BD6C-4D89-BFC6-01EF449B7B9F/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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