Sorting out the Social Security funding scare

04/25/2012 | Reuters

Social Security Administration Commissioner Michael Astrue is trying to address what he says is a misconception: that the Social Security fund is soon to be empty. "After 2033, even if Congress does nothing, there will still be sufficient assets [from payroll taxes] to pay about 75% of benefits," he says. Partial funding is not acceptable, he says, but it's not the same as an empty fund.

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