Did Social Security Make a Big Mistake?
It is possible the government has "grossly underestimated" its needs "to the tune of $800 billion by 2031," according to analysts.
MSN Money reports that academic analysts say we may be running out of money. The United States Social Security Administration (SSA) has been using "outdated calculations and severely overestimated the money available for retirees," says the report. The analysis was conducted by Samir Soneji, a demographer and professor at the Dartmouth Institute for Health Policy and Clinical Practice, and Gary King, a professor of government at Harvard, says the MSN report. The two say the government has "grossly underestimated the money it needs for retiring Americans to the tune of $800 billion by 2031, more than the current annual defense budget." They say that something must change immediately to save the system. "And if nothing is done," they said to…
Anthony Wayne
9:12 am on Thursday, January 10, 2013
Some of the above comments serve to illustrate in no uncertain terms the mess our future generations are sure to be left with. It does not take but one ounce of common sense to realize our country is broke. The past one hundred years of welfare-warfare government, and the sense of entitlement that flawed system promotes, are clearly illustrated above. Statements like "everyone deserves it" or "… more ›