National Debt Clock

Thursday, May 14, 2009

2016: The Year Social Security Begins to Spend More Than it Takes In

"In net present value terms, Social Security owes $7.7 trillion more in benefits than it will receive in taxes."

"In other words, Congress would have to invest $7.7 trillion today in order to have enough money to pay all of Social Security's promised benefits between 2016 and 2083."

"Any worker born after 1970 will reach full retirement age after the trust fund is exhausted."

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