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Article from: U.S. News & World Report
Article date: November 01, 2008
Author: Pethokoukis, James
Byline: James Pethokoukis
This bit from the Cato Institute sums up the problems with Social Security and why Obama's tax hike doesn't really help ...
...like, not at all: "As we know, Social Security will begin running a deficit--paying out more in benefits than it takes in through taxes --in just nine years, by 2017. Of course, in theory, Social Security is supposed to continue paying benefits after 2017 by drawing on the Social Security Trust Fund until 2040, after which the Trust Fund will be exhausted. In reality, the Social Security Trust Fund is not an asset that ...
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