Social Security: Can’t We Wait Until 2037 to Solve That Problem?

Conn Carroll / May 13, 2009

No. Heritage fellow David John explains:

Is the Important Year to Consider 2037, 2016, or 2009?

The year when Social Security begins to spend more than it takes in, 2016, is by far the most important year. From that point on, Social Security will require large and growing amounts of general revenue money in order to pay all of its promised benefits. Even though this money will technically come from cashing in the special issue bonds in the trust fund, the money to repay those bonds will come from other tax collections or borrowing. The billions that go to Social Security each year will make it harder to find money for other government programs or require large and growing tax increases.

A second important year is 2009–this year. Starting now, (more…)