Recession Hits Social Security Projections (BusinessWeek Online via Yahoo! News)
Doomsday for Social Security and Medicare has come a little closer, thanks to the deep recession. The costs of administering Social Security are now expected to exceed tax revenues in 2016, a year earlier than expected, and the trust funds for the program are now projected to run out in 2037, four years earlier than envisioned a year ago. The $468 billion Medicare program is in worse shape, with ...

Social Security and Medicare finances worsen (AP via Yahoo! News)
Social Security and Medicare are fading even faster under the weight of the recession, heading for insolvency years sooner than previously expected, the government warned Tuesday. Social Security will start paying out more in benefits than it collects in taxes in 2016, a year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner, trustees reported.