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SS Trust Fund - "We lost $1.1 Trillion last year!"

By: capt_nemo in WRGO | Recommend this post (0)
Mon, 16 May 11 4:52 PM | 34 view(s)
Boardmark this board | Reality news,,,,,,,,

Msg. 00116 of 18626
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Submitted by Bruce Krasting on 05/16/2011 07:41 -0400

Yes, that is a correct headline. In its annual report to Congress last week SS acknowledged that its condition had sharply deteriorated in 2010. This sentence from the report is all you really need to know about what the status is:

The open group unfunded obligation over the 75-year projection period has increased from $5.4 trillion (present discounted value as of January 1, 2010) to $6.5 trillion (present discounted value as of January 1, 2011).

http://www.zerohedge.com/article/ss-trust-fund-we-lost-11-trillion-last-year?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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