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How Broke is Social Security?
“Social Security’s $23 trillion debt, which Congress has chosen to keep off the books, swamps the $13 trillion of official debt in the hands of the public.” That’s from testimony yesterday by Larry Kotlikoff before the House Social Security subcommittee. He went on to say: “… the system’s off‐the‐books debt is growing at leaps and bounds – by $1.6 trillion between 2012 and 2013 ‐‐ thanks to the approaching retirement of vast numbers of baby boomers….”…Read More
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