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Thursday, January 27, 2011

CNN: Social Security to Run Permanent Yearly Deficits

Nope, no comments from me on the President's speech; actions speak louder than words. What did draw my attention though was the expectation that Social Security will be permanently showing red digits on its bank account from this year forward.

I actually was kind of surprised it hadn't happened sooner. The retirement funds are either facing or have already hit the bottom of their treasure chests and it was only a matter of time the rest would follow.

The housing market is said to double dip, but one thing is for sure; there will be no double dipping where it concerns an empty piggy bank. Once the money is gone, it's gone and when those red numbers appear on your statement, it is going to take some serious budgeting to turn them black again.

They should have seen this coming and made arrangements to prevent it, but that is hindsight, like most of us have experienced. When reality hits, it hits hard and Social Security got a good taste of what that's like.

Welcome to the club!



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