Monday, August 02, 2010

Mendacious Cracker.


NEW YORK TIMES: Prepare Yourself For Social Security’s Failure. So is this the hope, or the change?

Key quote: “One financial planner, who has dual citizenship in the United States and Greece, said he was not taking chances. ‘Having seen what happened in Greece, I feel even more strongly today that I should not count on any Social Security for me and my younger clients,’ said the planner, George Papadopoulos, 43, of Novi, Mich. ‘I will continue to tell clients not to highly rely on Social Security and think of any money coming their way as gravy.’”

Really? I'd say the key quote is this one:

Social Security will, according to the last annual report from its trustees, be able to pay full benefits through 2037. Then, if there are no changes in the program in the meantime, the taxes collected will be enough to pay out only about 75 percent of benefits through 2083.

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