Interesting article, beginning in 2010 and apparently each year thereafter social security will fail to receive sufficient funds to pay outlays. Accordingly, social security will have to begin cashing its assets, which are IOU's that are owed by the federal government to social security. I presume the IOU's are there because the federal government borrowed or took from social security in the past. The projected taxpayer tab in 2010: $29 billion.
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Dave Tate, Esq.
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Covering news relating to legal developments; directors and officers; audit committees; governance, risk and compliance; accountants; accountability; California trust, estate and elder updates; and assorted related business and social issues. Please tell friends and colleagues.
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- David Tate, Esq.
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