Thursday, March 26, 2009

Social Security surpluses gone

This is really not good:

Hot Air » Blog Archive »: Social Security surpluses gone
PBS reports that the Social Security surplus, once considered safe for a generation, now may disappear in two years, next year … or may already have vanished. According to Treasury’s website, we tipped over into deficit spending of SocSec in February of this year. The sudden disappearance of SocSec surplus will have dramatic impacts on budget-deficit projections, as the clip explains, since administrations use the surplus to make the deficits look smaller than they really are:

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