“The power under the constitution will always be in the people. It is entrusted for certain defined purposes, and for a certain limited period, to representatives of their own choosing; and whenever it is executed contrary to their interest, or not agreeable to their wishes, their servants can and undoubtedly will, be recalled.”

~ George Washington (1787)

Saturday, June 23, 2012

A "Ramen noodle filled retirement"

The 2012 Social Security Trustees Report—the authoritative source on the program’s finances—states that the program’s “trust fund assets” will “continue to grow” through 2020, a claim that has been repeated by numerous sources as varied as US News & World Report, the AFL-CIO, and the American Academy of Actuaries. However, as revealed by data buried deeper in the 252-page Trustees Report, this assertion disregards the effects of inflation, which are projected to overrun any expected trust fund gains and contribute to an accelerating decline that will start in 2013.
The article and the links are worth the time to read. 
Posted by at
Labels: , , ,