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Old 09-28-2009, 01:41 AM
 
Location: Tennessee/Michigan
28,965 posts, read 49,870,859 times
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Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that's happened since the 1980s.

The deficits — $10 billion in 2010 and $9 billion in 2011 — won't affect payments to retirees because Social Security has accumulated surpluses from previous years totaling $2.5 trillion. But they will add to the overall federal deficit.

Job Losses, Early Retirements Hurt Social Security - ABC News
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