(CNSNews.com) - The U.S. Treasury has needed to borrow money to pay Social Security benefits in 15 out of the last 25 months on record because the Social Security system was in deficit in those months, with the cost of monthly benefit payments exceeding the Social Security tax revenues flowing into the Old Age, Survivors and Disability Insurance trust funds, according to data published by the Social Security Administration.In 15 of Last 25 Months, Treasury Needed to Borrow Money to Pay Social Security Benefits
Thursday, October 21, 2010
Tuesday, October 12, 2010
Report warns of coming wave of municipal pension shortfalls
By Michael A. Fletcher Washington Post Staff Writer
Tuesday, October 12, 2010; 12:12 AM
The nation's largest municipal pension plans are carrying a total unfunded liability of $574 billion, which comes on top of as much as $3 trillion in unfunded pension promises made by the states, according to a report released Tuesday.