Confirmation of SS Broke
Yeah, it's widely known that Social Security is in trouble.
Kinda like a really big, government-sponsored, taxpayer-funded Ponzi scheme.
News that came out yesterday confirms the situation is bad -- unsustainably bad:
Social Security benefits will start to exceed the program’s costs in 2020, and the program will deplete its $2.9 trillion reserve fund in 2035.
The reserves will run out a little later than the trustees of Social Security and Medicare predicted last year, but the bottom line is still the same. The program’s deficits appear vast, making it clear that the public should expect smaller benefits, higher taxes, or both.
(https://www.barrons.com/articles/social-security-deficit-reserves-check-benefits-payroll-tax-51555958282)
Great. Just great.
Grace & Peace & Love to you all -
Matt
Kinda like a really big, government-sponsored, taxpayer-funded Ponzi scheme.
News that came out yesterday confirms the situation is bad -- unsustainably bad:
Social Security benefits will start to exceed the program’s costs in 2020, and the program will deplete its $2.9 trillion reserve fund in 2035.
The reserves will run out a little later than the trustees of Social Security and Medicare predicted last year, but the bottom line is still the same. The program’s deficits appear vast, making it clear that the public should expect smaller benefits, higher taxes, or both.
(https://www.barrons.com/articles/social-security-deficit-reserves-check-benefits-payroll-tax-51555958282)
Great. Just great.
Grace & Peace & Love to you all -
Matt
