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Worthy Christian News » Economist: Social Security Bankrupt

Economist: Social Security Bankrupt

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Thursday, July 31, 2014 (2:00 am) | Worthy News / U.S. Economy, US News

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

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  • Rhonda Byrd Morris
    31 July 2014 at 1:26 pm - Reply

    Yet we are giving billions to Qatar.

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