There is an excellent article by Bruce Krasting on how Social Security may blow up much faster than most think. Read his article at http://brucekrasting.blogspot.com/2012/07/bernanke-my-goal-is-to-destroy-social.html
The key quote from the article states "Based on current
law, all Social Security benefit payments must be cut by (approximately) 25% when
the Social Security Trust Fund (SSTF) is exhausted"
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