Buried down deep in the Friday afternoon news dump is the not inconsequential news that Social Security is about to go bust – a lot faster than anyone had predicted earlier.  Investor's Business Daily sums up the coming fiasco pretty well: The Social Security report finds that the "trust fund" will run out of money in just 17 years. The news only gets worse from there. The program's unfunded liability over the next 75 years is now $12.5 trillion, which is up from $11.4 trillion last year and $4.7 trillion a decade ago. In other words, Social Security's long-term unfunded liability has increased by 166% in the span of 10 years. And on a cash flow basis, Social Security is now losing money every year. Last year it was $54 billion in the red. In a decade the annual shortfall will reach $215 billion – after adjusting for inflation. It's only by spending "interest" earned in the program's...(Read Full Post)