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The Boston Globe

Business

Stephen Ohlemacher

Social Security surplus dwarfed by future deficit

WASHINGTON — As millions of baby boomers flood Social Security with applications for benefits, the program’s $2.7 trillion surplus is starting to look small.

For nearly three decades Social Security produced big surpluses, collecting more in taxes from workers than it paid in benefits to retirees. The surpluses also helped mask the size of the budget deficit being generated by the rest of the federal government.

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