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- Headquarters: Baltimore, Maryland (plus 10 additional regional offices)
- Commissioner: Michael J. Astrue
- Employees: 62,000
- Biggest expense of theFederal Government's budget
- The Federal Government must start paying back what it owes the Social Security trust fund in 2017 to continue paying out benefits at 100%
- 2008: Social Security will only be able to pay out an estimated 78% of benefits in 2041
- 2009: Social Security will only be able to pay out an estimated 76% of benefits beginning in 2037CNN: Recession hits Social Security hard (May 12, 2009)
- Social Security will be paying out more benefits than it is taking in in taxes by 2016CNN: Recession hits Social Security hard (May 12, 2009)
- 2004: U.S. Social Security system paid out nearly $500 billion in benefits
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In general, Social Security refers to public programs that provide income and services to people in the event of sickness, retirement, disability or unemployment. In the United States, the term Social Security refers to programs created in 1935 under the Social Security Act.
On May 12, 2009, Secretary of the Treasury Timothy Geithner announced that the United States' current recession has had an impact on the Social Security program. Officials now estimate that the Social Security trust fund will be exhausted as soon as 2037, which is four years earlier than what was estimated in 2008.CNN: Recession hits Social Security hard (May 12, 2009)
Programs
Social Security in the United States typically refers specifically to the Old-Age/Retirement, Survivors, and Disability Insurance program, which provides financial benefits for retirees and those with disabilities. Other programs include the Hospital Trust Fund and the Supplementary Medical Trust Fund.
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Social Security Questions
Given a choice between continuing Social Security or diverting pending funds to a Government guaranteed pension which would you choose? 1 AnswerI'd choose the government guaranteed pension fund, because of the "government guarantee" aspect. If the government can guarantee banks with trillion-dollar bail... read more
Why is Securitas Mobile different from other security companies? 1 AnswerThe company apparently has a very broad range of commercial and residential services, including: * Retail security (like shopping malls) * Banking, High-Tech, ... read more
What type of securities does Goldman Sachs sell? 1 Answerstocks and bonds...bonds also, trades commodities but those aren't securities also sells advice but also not a security read more
Cyber Security Experts 4 AnswersYes and no. In fact, the whole science of cyber security was solved decades ago, such that if people would just read the manuals and follow the instructions whe... read more
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RT @drobertsjr b4 Social Security, the "option" was crushing poverty on retirement. B 4 Medicaid, dying w/o treatment. (via @ProfJonathan)
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.@drobertsjr No--before Social Security, the "option" was crushing poverty upon retirement. Before Medicaid, dying w/o treatment. #hcr
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You see folks the Government does NOT give visitors or "nonimmigrant overstays" a Social Security Number of which we both have!!!
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social security are not going to give me a cost of living raise, but AARP lets the insurance company raise they're fees
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You see folks the Government does NOT give visitors or "nonimmigrant overstays" a Social Security Number of which we both have!!!
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