2016-08-01blogspot.com

In 2010, Social Security (OASDI) unofficially went bankrupt.  For the first time since the enactment of the SS amendments of 1983, annual outlays for the program exceeded receipts (excluding interest credited to the trust funds).  The deficit has grown every year since 2010 and is now up to 8% annually and is projected to be 31% in 2026 and 44% by '46. 

... [so] the Treasury will issue another $2.9 trillion over the next 13 years to be sold as marketable debt so it may again be spent [by OASDI] (just moving the liability from one side of the ledger, the Intergovernmental, to the other, public marketable). However, according to the CBO, Social Security will have burnt through the pretend trust fund money (that wasn't there to begin with) by 2029.



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