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WASHINGTON - Social Security and Medicare are fading even faster under the weight of the recession, heading for insolvency years sooner than previously expected, the government warned Tuesday. Social Security will start paying out more in benefits than it collects in taxes in 2016, a year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner, trustees reported.
Social Security and Medicare finances worsen
Is there any reason I'm paying this huge Social Security tax if it's already known that when I reach age of 62 the fund will be depleted?
Social Security and Medicare finances worsen
Is there any reason I'm paying this huge Social Security tax if it's already known that when I reach age of 62 the fund will be depleted?