The
high priests of the Social Security and Medicare "trust funds"
(whatever happened to the lockbox?) issued new warnings about the solvency of
the "trust funds" they oversee. The Social Security Disability
Insurance trust fund will be gone, depleted, kaput in 2016, which is two years
earlier than expected. Thank you, masters of the obvious! Matt Rutledge, a research
economist at Boston College's Center for Retirement Research, stated in Investor's
Business Daily: "We see a lot of people applying for disability once
their unemployment insurance expires." Next shoe to drop: The Social
Security trust fund, which goes to retirees, will be exhausted in 2036, two
years earlier than projected last year. This, once again, should not be a
surprise to anyone who pays any sort of attention to our fiscal situation,
because like clockwork, every year, the death date for the lockbox gets moved
closer. [more...]
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