Tag: society

Reeling from the Recession Social Security is Down but not Out

My brother Ron and wife Michelle joined me for a delightful soup and sandwich at Panera bread. Social security was the topic my brother and I briefly debated over dinner. The social security system was devised to tax the active work force and provide minimal income to retired and disabled Americans. Ron mentioned that the funds are expected to last at least 35 years. I was under the impression that benefits would be strained much sooner, and decided to go directly to the source when we got home. A quick web search revealed the official 2010 trustee report to the public on the status of social security funds. The following is an excerpt which captures the immediacy of social security reform (stress mine) while painting a long duration outlook. (more…)