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...substantial surplus and will be throughout the next decade, according to the CBO. A key source of that surplus, though, is interest payments on federal debt held by the Social Security trust fund. It's money that Social Security has definitely earned, but it's coming out of the rest of the federal budget. Same goes for employer contributions to Social Security for federal employees, which also boost the program's bottom line but not the government...

Author: /time Magazine | Title: Social Security's Surplus Disappearing Fast | 4/9/2009 | See Source »

...starting to seem like small change. My earlier worry about 2017 was that the country was going to have to find a way - through raising taxes or cutting spending - to make up for the $100 billion or so that Social Security had been handing over to the rest of the Federal Government annually. Now, with a budget deficit projected at $1.8 trillion this year, we've got far bigger fiscal issues to worry about...

Author: /time Magazine | Title: Social Security's Surplus Disappearing Fast | 4/9/2009 | See Source »

When I was 8, I did other sports also. The one thing I would tell you is, Don't limit yourself to one sport for the rest of your younger years. It can get monotonous, and you can burn out really quick...

Author: /time Magazine | Title: 10 Questions for Dara Torres | 4/9/2009 | See Source »

...Deicing Age Scientists at the National Snow and Ice Data Center say older, thicker sea ice, which once made up 30% to 40% of Arctic sea ice and is less prone to melting, makes up only 9.8% of this year's shrunken ice spread--the lowest level ever. The rest is thinner and more vulnerable to warmer summer temperatures. Researchers estimate that 80% of Arctic ice may melt over the next 30 years and eventually disappear altogether...

Author: /time Magazine | Title: The World | 4/9/2009 | See Source »

...community of Jacksonville, Fla., he was a legend. To the rest of the world, Rocco Morabito, who died on April 5 at 88, was the creator of The Kiss of Life, the first spot-news photograph ever to win a Pulitzer Prize...

Author: /time Magazine | Title: Rocco Morabito | 4/9/2009 | See Source »

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