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Payroll taxes stream into the trust fund that is used to pay current retirees' benefits.
No state has ever borrowed so much money to pay current bills, he said.
These constant increases pile up more money than needed to pay current benefits.
Borrowing to pay current expenses is generally bad budgeting and, in New York, a potential invitation to suits by bondholders.
Under the Social Security system the payroll taxes of current workers are now used to pay current retirees.
Prudential and Aviva said their property funds also had enough cash to pay current levels of redemptions.
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So if part of those taxes are shifted into private accounts, a way has to be found to keep paying current retirees.
Reapplicants will also need to pay the current application fee.
Or do you borrow against the future to pay for current services?" Spending continues to expand.
But it's having no problem at all borrowing to pay for current expenses.
The remaining 81percentt, along with trucks, will continue to pay the current $16 fee.
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