Posted by: New Class Traitor | June 13, 2010

Social Security cashflow negative

Michael Barone has the story (h/t: Killian Bundy on C2). Is this the “hope” or “change” King Nothing was promising?

One of the commenters suggests a contributing factor I overlooked: baby boomers despairing of ever finding another job in ths economic climate, and applying for Social Security as soon as they are eligible, rather than when they would normally retire.

“realwest” on C2 notes that much of the so-called “job creation” has been in the Federal government apparatus, which doesn’t exactly help Social Security…

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Responses

  1. Well another commenter at C2 (namely moi!) also commented on the fact that most of the “new jobs and jobs saved” have been in the Federal Government and Fed government workers don’t pay into Social Security.
    And those who do file “early” for SS benefits get much reduced benefits than those who can hold on there.
    But cash flow will be a problem until private sector employment picks up a lot. Good thing SS has nearly $2 Trillion in US Treasuries as back up.


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