Valley residents react to grim news about Social Security
Sat, 29 Jan 2011 01:16:13 GMT —
As the economy continues to fall, so does the nation's Social Security fund.
According to the non-partisan Congressional Budget Office, it TMs on track to run out of funds by 2037.
"It makes me feel like they are stealing my money..I think they took so much time pointing fingers at having a bad economy that they didn TMt take care of hiring the unemployed Charlie Austin said.
According to the nonpartisan CBO, Social Security will collect $45 billion less in payroll taxes than it pays out in benefits.
The fund will continue to operate in deficit each year until it's drained," the report said.
Experts said this should be a wake up call for many who are not prepared. Austin believes the government should take care of us the way we are taking care of them.
Action 4 News spokes to many people in the Rio Grande Valley who disagree.