On Thu, Mar 25, 2010 at 6:45 PM, Eric Roberts < [email protected]> wrote:
> > Or the big thing...Congress stealing from Social Security to pay for > things...that would go a long way in stopping the decline. > > Eric > > No big deal, recession will continue to get better and more money will roll in.... Gotta love being a private contractor paying 12.4% on the dollar as everyone else pays half because their employer pays the other half. - http://www.nytimes.com/2010/03/25/business/economy/25social.html?hp=&adxnnl=1&adxnnlx=1269554414-M6/tAoooOJIxCzXIwBC9Lw Although Social Security is often said to have a trust fund, the term really serves as an accounting device, to track the pay-as-you-go programs revenue and outlays over time. Its so-called balance is, in fact, a history of its vast cash flows: the sum of all of its revenue in the past, minus all of its outlays. The balance is currently about $2.5 trillion because after the early 1980s the program had surplus revenue, year after year. Now that accumulated revenue will slowly start to shrink, as outlays start to exceed revenue. By law, Social Security cannot pay out more than its balance in any given year. For accounting purposes, the systems accumulated revenue is placed in Treasury securities<http://topics.nytimes.com/top/reference/timestopics/organizations/t/treasury_department/treasury_securities/index.html?inline=nyt-classifier>. In a year like this, the paper gains from the interest earned on the securities will more than cover the difference between what it takes in and pays out. - Glad to at least see they won't be able to spend that money on other things this year. What happened to lottery money going to schools agai ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:314086 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
