Social Security may become Less Secure

Announced yesterday, Social Security increases will freeze for at least two years, as no inflation adjustment will occur in 2010 and 2011.

Since 1975, yearly increases towards social security have been made automatically in relation to the CPI, which was 5.8% last year.  A chart of yearly payment increases has been reported in this MSNBC article released yesterday. 

This decision was made in part by the continually growing Social Security debt, which is larger than the world’s GDP: $65.5 trillion, according to Money Net Daily from February of 2009.

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