Next in Line for a Bailout: Social Security

[Arraya]

http://finance.yahoo.com/focus-retirement/article/108747/next-in-line-for-a-bailout-social-security?mod=fidelity-readytoretire
Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system.

A report from the Congressional Budget Office shows that for the first time in 25 years, Social Security is taking in less in taxes than it is spending on benefits.

Instead of helping to finance the rest of the government, as it has done for decades, our nation’s biggest social program needs help from the Treasury to keep benefit checks from bouncing — in other words, a taxpayer bailout.

No one has officially announced that Social Security will be cash-negative this year. But you can figure it out for yourself, as I did, by comparing two numbers in the recent federal budget update that the nonpartisan CBO issued last week.

[Coronita]

Social security is nothing compared to medicare. Oh, we’re going to be paying dearly when the baby boomers retire in full force.

I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local

[Coronita]

Social security is nothing compared to medicare. Oh, we’re going to be paying dearly when the baby boomers retire in full force.

I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local

[Coronita]

Social security is nothing compared to medicare. Oh, we’re going to be paying dearly when the baby boomers retire in full force.

I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local

[Coronita]

Social security is nothing compared to medicare. Oh, we’re going to be paying dearly when the baby boomers retire in full force.

I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local

[Coronita]

Social security is nothing compared to medicare. Oh, we’re going to be paying dearly when the baby boomers retire in full force.

I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local

[AK]

[quote=flu]I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local[/quote]

And if I’m lucky I’ll be retired by then.

[AK]

[quote=flu]I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local[/quote]

And if I’m lucky I’ll be retired by then.

[AK]

[quote=flu]I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local[/quote]

And if I’m lucky I’ll be retired by then.

[AK]

[quote=flu]I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local[/quote]

And if I’m lucky I’ll be retired by then.

[AK]

[quote=flu]I predict there will be a point in our future which W-2 folks will be paying 40% of their paychecks on taxes for fed,state, and possibly local[/quote]

And if I’m lucky I’ll be retired by then.

[Aecetia]

I heard it too a couple of days ago about SS being cash negative. This sounds like the perfect storm hitting at the end of the year. What do you Arraya, Flu, Econ prof and to Party Pup in the blind, I heard the Euro is getting ready to fold. What say you? Interesting times.

[Aecetia]

I heard it too a couple of days ago about SS being cash negative. This sounds like the perfect storm hitting at the end of the year. What do you Arraya, Flu, Econ prof and to Party Pup in the blind, I heard the Euro is getting ready to fold. What say you? Interesting times.

[Aecetia]

I heard it too a couple of days ago about SS being cash negative. This sounds like the perfect storm hitting at the end of the year. What do you Arraya, Flu, Econ prof and to Party Pup in the blind, I heard the Euro is getting ready to fold. What say you? Interesting times.

[Aecetia]

I heard it too a couple of days ago about SS being cash negative. This sounds like the perfect storm hitting at the end of the year. What do you Arraya, Flu, Econ prof and to Party Pup in the blind, I heard the Euro is getting ready to fold. What say you? Interesting times.

[Author]

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