WASHINGTON D.C. (Worthy News)– "Social Security is insolvent," Boston University economics professor Laurence Kotlikoff told the House Subcommittee on Social Security at a hearing on Capitol Hill Tuesday. "And it's not bankrupt in 30 years, or 20 years, or 10 years. It's bankrupt today," CNS News reported.
"This is not my opinion. This is the only conclusion one can draw from Table IVB6 of the 2013 Social Security Trustee’s Report."
"This table reports that Social Security has a $23 trillion fiscal gap measured over the infinite horizon," noted Kotlikoff, who also served as a senior economist on President Ronald Reagan's Council of Economic Advisers. — Source
Related News on the Internet
Only two years until Social Security's disability fund runs out – Washington Examiner
Copyright 1999-2015 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.