Social Security Surplus Dwindling


	Social Security Surplus Dwindling

sahara

10-7-2009 4:09 PM

120 views

sahara says:

The treasury department has dipped into social security to pay off other programs since the Reagan years, in 1983, Reagan raised the social security tax to offset his deficits, taking more than $40 billion per year from the fund. Now with the all the unemployment, bailouts, and war spending, it may run out sooner than expected.

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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/332040bd-c858-4d7d-829a-92dedf360fba/F9F6C031-3171-4BCF-A0BE-23AFF59A4C72/" 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://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0" href="http://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0">Criminals know that people who are
distracted might forget to keep an eye on their valuables. It’s
just happened to us as a nation</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://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0"><P>We have all been so busy whining about bonuses at American
International Group Inc. and arguing about the so-called card-
check legislation that we forgot to watch the Social Security
surplus. While we were looking away, that surplus disappeared,
eight years ahead of schedule.     </P></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://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0">Social Security has for years been the near-term bright
spot in the federal budget. Each year the program has raised $50
billion to $100 billion more in payroll taxes than it paid out in
benefits. Sure, deficits were expected far off in the future, but
the current program was on sound financial footing</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://www.bloomberg.com/apps/news?pid=20601110&sid=asbiybVqsYC0">Why did the program’s finances change so much, so fast? This
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reduces payroll tax revenue</blockquote><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://content8.clipmarks.com/images/clip-icon.gif" 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://www.house.gov/ryan/issuepapers/socialsecurityissuepaper.html" href="http://www.house.gov/ryan/issuepapers/socialsecurityissuepaper.html" style="font-size: 11px;">www.house.gov</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.house.gov/ryan/issuepapers/socialsecurityissuepaper.html"> The Social Security surplus is given to the Treasury Department and replaced with IOUs.</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/F9F6C031-3171-4BCF-A0BE-23AFF59A4C72/blog/" title="blog or email this clip"><img src="http://content9.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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