Check out the article from Money on CNN linked to on Yahoo:
http://finance.yahoo.com/retirement/article/107761/what-you-need-to-know-about-social-security.html?mod=retire-planning
Most hilarious is this quote from the very first Q&A answer:
QUESTION 1: Can I count on Social Security to be there?
You can. Despite what you may hear about the system going broke, the funds from workers' payroll taxes will cover all retirees' payments until 2016 even if no changes are made to the current program. After that the Social Security Administration can cover full benefits until 2037 by cashing in its Treasury bonds from the Social Security trust fund. And when the bonds run out, income from payroll taxes would be enough to cover about 75% of payments for decades.
The bold above is added by me of course. See the hilarity? The government will get more money by cashing in it's Government Bonds. ????!!!!!!!!??????
Do people not see the foolishness here? The day the government decided to double its pleasure and double its fun by using the trust fund to buy US Treasury Bonds was the day some economist should have stood up and and said "you can't have your cake and eat it too." Guess which President first endorsed this idea? Not that it matters anyways, as the whole system is a vast extrotion to begin with, but leave it to the politicians to take a bad thing and make it worse.
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