Obama Facing Looming Social Security Crisis

08/12/2009 • Newsmax

As Congress agonizes over health care, an even more daunting and dangerous challenge is bearing down: how to shore up Social Security to keep it from burying the nation ever deeper in debt. What to do about mushrooming government payments as millions of baby boomers retire? How about a giant federal Ponzi scheme? That might work for a while. But wait. That's pretty much the current system. Social Security takes contributions from today's workers and uses them to pay the old-age benefits that were promised to retirees. But there are serious concerns how long that can last. President Barack Obama has said he'll tackle Social Security and related "entitlement" programs when the health care overhaul is resolved

2 Comments in Response to Obama Facing Looming Social Security Crisis

Comment by TheRockster

Entered on: 8/13/2009 10:34:01 AM

Obama has a plan to "save" Social Security. It's called "a reduction in recipients." If you want to help this plan to succeed, just say, "Baaaahh," as you get your flu shot.

Comment by Lucky Red

Entered on: 8/13/2009 7:02:43 AM

Yep! This is quite the mess Obama has inherited from the Repugs

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