Tuesday, February 23, 2010

Social Security Funds Hit the Rocks

Eggster digs around, deserves a medal.

While Social Security’s Office of the Chief Actuary has not released the final financial data of the “Trust Funds” for January 2010, the Treasury Department has released the basis for those numbers, the January 2010 Monthly Treasury Report, and it appears that the combined OASDI “Trust Funds” have finally gone into a 12-month primary (or cash) deficit for the first time since monthly records were kept in 1988, to an estimated tune of $98 million.

Pictures and everything over there.

1 comment:

steveegg said...

Just doing the numbers-crunching the media won't do. It truly is amazing that the first year of Teh Won also marks the first year that the "forever" fix of Social Security failed.

Speaking of which, did you notice that the current version of PlaceboCare anticipates being able to raid those taxes to prop up SocSecurity?