AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Walker Recall Effort Struggles To Gain Momentum
Controversial Book On Obama Appears To Have Lifted Key Quote
Social Security trust fund
Social Security Fund Will Be Drained by 2037
By not in system - AOL NewsWASHINGTON - Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement. New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037. This year alone, Social Security is projected to collect $45 billion less in payroll taxes than it pays out in retirement, disability and survivor benefits, the nonpartisan Congressional Budget Office said Wednesday. That figure swells to $130 billion when a new one-year cut in payroll taxes is ...
At 75, Social Security Is Showing Its Age
By Joann M. Weiner - Politics DailyAmerica's Social Security system celebrates its 75th anniversary today. Hurray. Thanks to this program, more than 55 million elderly or disabled Americans (and their dependents) receive an average of $1,070 each month. Yet, for all the retirement security that the program provides, its future looks bleaker than ever. Earlier this month, the trustees for the Social Security Administration reported that the system will not be able to pay full benefits after 2037. Despite the dismal forecast, most politicians steer clear of any serious attempt at reform. It's one of those issues described as ...
Social Security Turns 75: How Healthy Is It?
By Andrea Stone - AOL NewsWASHINGTON (Aug. 12) -- Is Social Security showing its age? When President Franklin D. Roosevelt signed "old-age" benefits into law on Aug. 14, 1935, nearly half of men and almost 40 percent of women died before they were old enough to cash in. The program later grew to include disability benefits and Medicare, which provides health care to the elderly. Today, with people living longer and baby boomers starting to collect their checks, many wonder if the Depression-era program is finally over the hill. "Social Security at 75 is fairly arthritic," said Stuart Butler, head of domestic and ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- Palin Earnings Estimated at $12 Million
- The Five Most Racist Obama Cartoons?
- Jimmy Carter Leaves Church Over Treatment of Women
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- Irked Senate Panel Votes 30-0 to Cut Pakistan Aid
- GSA Bash Organizer Steps Down
- More Stories »
- Know Your Enemy
- Obama’s Challenge in Egypt
- The Edwards Waiting Game
- Are Doctors Doing Too Much?
- The Pagan Cult of Reagan
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics