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Social Security’s Over/Under Problem Hits a New Level
According to a post by moneywise reporter Chris Clark on finance.yahoo.com, Social Security’s cumulative tally of erroneous payments recently hit a milestone: $1 billion. The problem of incorrect payments is not new. It has been discussed in many media articles this year and results largely from administrative problems within the agency, technical issues associated with outdated technology, and staffing shortages developed over the past few years (see related article). Clark’s article, which you can read in full here, provides background on how various segments of the public are affected and the steps the Social Security Administration is taking to correct the problems.