Funding crisis, The Social Security program in the United States faces a long-term

Funding crisis

The Social Security program in the United States faces a long-term funding crisis because: 1) the Social Security trust fund was exhausted in the year of 2002. 2) the number of retirees receiving benefits is rising more rapidly than the number of workers paying payroll taxes. 3) recent tax cuts have reduced payroll tax revenues. 4) the war on terrorism has drained funds away from Social Security.

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