[lrm242]

Suggest you google "Is Social Security Bankrupt" and review the governments own projections. SS receipts are at parity or below obligations. It is, therefore, bankrupt and only maintained by the federal governments ability to run infinite* deficits.

(*) Infinite, that is, until the Chinese and other foreign nations stop purchasing our debt.

[msabalau]

The Social Security trust fund has begun selling off it's very large supply of government bonds. This is exactly why the trust fund accumulated these assets. If a person or private pension fund accumulated a large supply of bonds in order to meet their obligations, it would be very odd to describe them as "bankrupt". Indeed, if I had enough bonds and income to meet my obligations for decades to come, I might well describe myself as being in possession of "fuck you money"

Going forward, in general, the Federal Government will not be able to rely on the Social Security Trust fund purchasing the bonds it issues. It can cut spending, raise taxes, or find other buyers who want to purchase bonds.

There is no particular reason to be concerned about the ability of the Social Security system, for years to come, to support it's obligations to the workers who have paid into the system. Unless, of course, you fear that wealthy elites will manufacture a bogus social security "crisis" to dispossess the savings of workers and continue to enjoy (federal spending/tax cuts) that can not otherwise be sustained.

[lrm242]

You're living in a fantasy world: http://money.cnn.com/2010/02/02/news/economy/social_security...