Tumblr Icon RSS Icon

Defining “Broke”

Posted on  

"Defining “Broke”"


google plus icon

In his speech in Detroit, President Bush said, “Social Security will go broke when some of our youngsters get ready to retire, and that’s a fact.”

FACT: In 2042, enough new money will be coming in to pay between 73-80 percent of promised benefits. Even with this reduction, new retirees will still receive more money, in inflation-adjusted dollars, than today’s beneficiaries.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.