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Thursday, August 12, 2010

Social Security at 75: Crisis Is More Myth Than Fact

The truth is that Social Security is completely solvent today, and will be into the future because it has a dedicated income stream that covers its costs and consistently generates a surplus, which today is $2.5 trillion. Estimates are that the Social Security surplus will grow to approximately $4.3 trillion in 2023, and that reserves will be sufficient to pay full benefits through the year 2037. After 2037, Social Security would still be able to pay for 78 percent of benefits even with no adjustments to revenues or benefits.







James Roosevelt: Social Security at 75: Crisis Is More Myth Than Fact