eagleseven
Quod Erat Demonstrandum
Social Security cash flow suddenly negative | Washington Examiner
Heres something I didnt know, from financial blogger Bruce Krasting (via John Ellis): Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the same period: $347.3 billion. Before this year, projections have always been that Social Security wouldnt cross that line into negative cash flow for five years or so. Now its a reality. Congress has been spending Social Securitys positive cash flow for years. Now theres no positive cash flow to spend.
Ten years before the worst doomsayers predicted, Social Security has become a net drag on the budget...and will continue to grow our near-catastrophic national debt.