Don
First of - thank you brother for your service.
As for the solvency of Social Security - allow me to send you here:
http://money.cnn.com/2009/07/29/news...tune/index.htm
Note its CNN, not some "wacko" Fox link, because some would dismiss out of hand anything that was from there. The author even states how this has been a looming problem for decades. There have been actions to work on its financial standings, which is why the following was published by the Brookings Institute:
http://www.brookings.edu/multimedia/...ity_aaron.aspx
Allow me to quote another article dated 5/15 of this year....
"For years
Social Security and
Medicare have been saying that they’re running out of money. But, until now, the date of insolvency was years away.
The just-released Social Security
trustees report says that Medicare will be spending more than it brings in this year. In less than a decade, the system will have run through all of its savings and be incapable of paying bills."
Thats right - Medicare is running a deficit - THIS YEAR. *That extra 500 Billion coming out in "health care reform" is really gonna help that too huh? As for Social Security, it is
projected to hit deficit spending in 2037. Source is:
http://moneywatch.bnet.com/saving-mo...res-broke/290/
The links themselves will take you to the trustees report if you want to read it yourself.
To say SS is broke right now, isn't entirely accurate, though one could say that of Medicare. Just remember that the trustees oversee both sets of trusts, so they share a common thread.
We could also point to a number of other government overseen programs/institutions that continue to be in the red every year... but I think you get the point. Hopefully this helps you understand the seriousness of the crisis the country faces with the existing debt added to the entitlements that will increase that burden on future generations.