The Big Switch Is Coming

SEE HERE Yup, it won't be long now. Social Security only barely eked out a surplus this past year (2009) taking in just $3 billion more than it had to pay out. (I guess we'll have to move that cross-over point a little to the left.) They are currently projecting deficits in 2010 and 2011 so the rosy prediction that the 1983 fix would hold until 2058 has come a cropper rather early. With nothing but red ink looking it in the eye for years to come something will likely have to be done to bolster the Federal Ponzi scheme. The Bush administration tried to get some mixed investment going with the system in 2005 but it stalled. Some options will have to be figured out before too long or the system will be faced with an emergency instead of a graceful transition. AN OLDIE BUT GOODIE FROM MICHELLE