Friday, May 13, 2011

SOCIAL SECURITY AND MEDICARE IN TROUBLE

The PROLEMS ARE WORSE THAN OBAMA WANTS YOU TO KNOW
Social Security and Medicare Trustees Friday issued their annual report on the financial future of the two entitlement programs. The prognosis isn't good, and, in fact, is even worse than was reported just one year ago.
According to the report, Social Security is now permanently cash negative and can no longer be funded solely from the payroll tax. It is projected to exhaust funds in 2036 — one year earlier than the report predicted last year.

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