Fact Check: Obama wrong on Social Security

As always, we take no position on whether Social Security should be changed, either to reduce the deficit or to shore up its troubled finances for future generations. Our job here is simply to establish facts and hold politicians accountable for any misinformation.
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Social Security has passed a tipping point. For years it generated more revenue than it consumed, holding down the overall federal deficit and allowing Congress to spend more freely for other things. But those days are gone. Rather than lessening the federal deficit, Social Security has at last — as long predicted — become a drag on the government’s overall finances.