Recession (Depression) Leads To Large Social Security Deficits

At least this "socialist" program directly benefits millions of Americans...


The Associated Press reports that due to the large number of job losses and numbers of people unemployed- the UCSA's Social Security fund will run deficits of $10 billion next year- and $9-billion in 2011.


Social Security has a surplus totaling $2.5 trillion- but the UCSA government has borrowed much of that- so the fund consists of government bonds and IOU's.

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