Posted on 04/24/2012 4:47:48 PM PDT by Sub-Driver
Social Security Faces Unfunded Liability of $8.6T, or $73,167.83 Per Household By Christopher Goins April 24, 2012
(CNSNews.com) - Social Security faces an unfunded liability of $8.6 trillion, according to the 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.
The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2086)
The $8.6 trillion in unfunded benefits Social Security is expected to pay over the next 75 years equals $73,167.83 for each of the 117,538,000 households the Census Bureau said were in the United States in 2010.
(Excerpt) Read more at cnsnews.com ...
Multiply that number by 10 and you’ll get the more accurate number.
dang...looks like I’ll just have to buy more lottery tickets to fund my retirement.
Wow, that’s about as much as 0bama has pissed off since he’s been president.
the people in detroit are saying ‘thanks, suckas, for the obama money’
You can thank, Planned Parenthood and those who claim disabilities. Social Security is built on a pyramid formula where future generations, exponentially were to feed the program as the aging retired and died. Planned Parenthood has eradicated 50 million tax payers. Furthermore, the program was never intended to be given to individuals with disabilities.
I’d rather owe it to you than cheat you out of it.
That’s more than Obama has added to our formal debt and about the same as the total amount of federal dollars wasted since the socialist took power three years ago.
There's plenty for everybody!
Do any Federal employees actually pay into retirement programs?
Won't all of their future retirement benefits come from the Federal Budget (which is already running negative)?
Hey America.
How does it feel that you worked your whole life and gave hundreds of thousands of dollars to taxes.
And politicians spent it all on re-election schemes.
And a bunch of low-lifes, do-nothings, drug addicts, illegals, etc. took a bunch of that money. And hate you for it.
A-ha-ha-ha-ha.
I honestly can’t wait for the Crash.
Shhhh, you're not supposed to let obama know what comes after trillion.
We need more DEAD Americans to fund this socialist scheme, or...
DEFUND socialist collectives, foreign and domestic.
DEPOPULATE socialists from the body politic.
live - free - republic
Unfortunately, many innocent people will be hurt, and too many of the crooks will make it out scot-free.
Thanks to Congress for raiding the Social Security Trust in the mid 90’s to balance the budget under President Clinton.....UGH!!! I think they all should have to explain themselves.
Do any Federal employees actually pay into retirement programs?
YES! AND IT IS NOT CHEAP!!!!! I wish people were so dang ignorant.
“and too many of the crooks will make it out scot-free.”
You believe that?
Ahh...ye of little faith.
I was thinking about it from an earthly perspective. But now that you mention that, I feel much better about it.
Thanks - I needed that!
:)
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