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CBO sounds alarm on several federal trust funds
It is not just the Social Security and Medicare Trust Funds that are headed for insolvency. The Congressional Budget Office (CBO) projects the Highway Trust Fund will be depleted by 2022 and the Pension Benefit Guaranty Corporation multi-employer fund by 2025. This article discusses the problems in depth. In short, the gap between spending and revenues grows each year, and the country’s debt burden is growing rapidly. Ignoring CBO’s impartial projections does not make the problems go away. Delay makes grappling with the problem worse. Read more…