Government estimates were grossly optimistic. And now your pocketbook will reap the consequences. By Robert Morley
Social Security could be bankrupt in two years. A demographic and financial landslide of mass wasting proportions is about to slam into the fragile government piggy bank. The consequences for the economy and on the standard of living for millions will be severe. Politicians looted hundreds of billions of dollars—and planned to loot hundreds of billions more—from the fund. Now it will be you and your children who will be forced to pay.
The current recession is wreaking havoc on the Social Security trust fund. But the real blame lies with irresponsible politicians. Instead of planning for the future—of which they had literally a generation in advance warning—politicians acted as if a severe recession would never come. Now, instead of a trust fund filled with the accumulated dollars of previous generations to cover distributions to those taxpayers, the government is left with an empty bag of holes.
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