Tuesday, March 30, 2010

Is Social Security doomed?.........

In a sign of a looming retirement crisis, the Congressional Budget Office is forecasting that the Social Security system will pay more in benefits than it collects in payroll taxes this year. This watershed moment wasn't expected for another six years, but the recession has accelerated the timetable by putting millions of Americans out of work — meaning they've stopped paying into the system — and nudging many others into early retirement. What does the program's deficit mean for the financial security of the nation, and for retirees? Here are five key consequences...Link

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