New Signs Social Security Is Going Insolvent

The Social Security Administration released its annual trustees reportthis week, and the prognosis is not good. Trust fund depletion—the date when Social Security’s reserves will be exhausted and the program will only be able to spend what it receives in payroll taxes at that time—is approaching at a rapid pace. This year, Social Security will dip into its reserves for the first time since 1982. Simply put, the trust fund is being drained. Read Full Article »