Thursday, March 25, 2010

Social Security turns negative

The NYT has a piece on Social Security and how expenditures will exceed receipts this year...6 full years earlier than the most recent appraisal done by the Congressional Budget Office ( in 2008 when Peter Ortzag -now aide to President Obama, headed the office). Seems the economic variables have moved around just too much since then. Doesn't give one much comfort in the numbers coming from these vaulted sources and underscores the depth of financial issues facing the U.S.