May 12
Actual picture of Social Security “Trust Fund”
I get a small sliver of pain in my head when I read stupid stuff like this:
Trustees of the two programs said Tuesday that Social Security will start paying out more in benefits than it collects in taxes in 2016, one year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner.
THERE IS NO TRUST FUND.
There never has been. The minute it starts to cost more than it collects, FICA taxes will be raised on those who don’t vote Democratic, retirement age jiggled with for those who don’t vote Democratic, and benefits cut for those who don’t vote Democratic.
Shouldn’t a writer for the AP understand this?