President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (136073)	8/22/2013 12:30:37 PM
From: Wharf Rat	Read Replies (1) of 149317

"You see, the SS Trust Fund has $0 in real cash or investments." Really? Really? Why $114 B in interest income in '11? The 2011 Trustees Report Press Release stated: "Income including interest to the combined OASDI Trust Funds amounted to $805 billion in 2011. ($564 billion in net contributions, $24 billion from taxation of benefits, $114 billion in interest, and $103 billion in reimbursements from the General Fund of the Treasury—almost exclusively resulting from the 2011 payroll tax legislation.) Total expenditures from the combined OASDI Trust Funds amounted to $736 billion in 2011. http://en.wikipedia.org/wiki/Social_Security_Trust_Fund Social Security’s total expenditures have exceeded non-interest income of its combined trust funds since 2010, and the Trustees estimate that Social Security cost will exceed non-interest income throughout the 75-year projection period. The deficit of non-interest income relative to cost was about $49 billion in 2010, $45 billion in 2011, and $55 billion in 2012. The Trustees project that this cash-flow deficit will average about $75 billion between 2013 and 2018 ssa.gov

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