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Social Security Is Doomed. Now What?
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d***@agent.com
2018-04-09 03:32:37 UTC
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Social Security Is Doomed. Now What?

No matter how you slice it, the program is going to fail.
by Antony Davies, James R. Harrigan, April 04, 2018, fee.org

There's no way to sugar-coat it. Social Security is going to fail.
There are, of course, ways to possibly extend its life for a few
years, or even decades, but ultimately, like all Ponzi schemes,
it will collapse. By the federal government's and the Social
Security Board of Trustees' own admissions, the Social Security
program will be paying out more than it takes in in just 4 years.

At current rates (and assuming the federal government fully pays
back the more than $5 trillion it "borrowed" from Social Security's
accounts), the program will be completely out of money in about
17 years. What does this situation mean for current working
Americans? Is there any way to solve this problem?

Join Antony Davies and James Harrigan as they discuss this and
more on this week's episode of Words and Numbers.

[ video ]

https://fee.org/articles/social-security-is-doomed-now-what/
jonathan
2018-04-09 13:37:46 UTC
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Post by d***@agent.com
Social Security Is Doomed. Now What?
No matter how you slice it, the program is going to fail.
by Antony Davies, James R. Harrigan, April 04, 2018, fee.org
There's no way to sugar-coat it. Social Security is going to fail.
There are, of course, ways to possibly extend its life for a few
years, or even decades, but ultimately, like all Ponzi schemes,
it will collapse. By the federal government's and the Social
Security Board of Trustees' own admissions, the Social Security
program will be paying out more than it takes in in just 4 years.
At current rates (and assuming the federal government fully pays
back the more than $5 trillion it "borrowed" from Social Security's
accounts),
That's peanuts for the United States of America.

The whole idea of govt is to provide for the people
if social security is stressed, the govt needs to
find the money.

A massive tax cut to big business and the rich
makes any complaint of shortfalls in social
programs the height of hypocrisy.

..."let's create a massive deficit with massive tax cuts
then claim we need to eliminate social programs because
of the massive deficit."

That's the republican logic, and it's a stain on the
notion of human decency.
Post by d***@agent.com
the program will be completely out of money in about
17 years. What does this situation mean for current working
Americans? Is there any way to solve this problem?
Join Antony Davies and James Harrigan as they discuss this and
more on this week's episode of Words and Numbers.
[ video ]
https://fee.org/articles/social-security-is-doomed-now-what/
--
me
2018-04-09 14:19:12 UTC
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What’s the difference between collapse via overspending vs overtaxing? The result is the same - collapse.
Jack Fate
2018-04-09 13:42:11 UTC
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Post by d***@agent.com
Social Security Is Doomed. Now What?
No matter how you slice it, the program is going to fail.
by Antony Davies, James R. Harrigan, April 04, 2018, fee.org
There's no way to sugar-coat it. Social Security is going to fail.
There are, of course, ways to possibly extend its life for a few
years, or even decades, but ultimately, like all Ponzi schemes,
it will collapse. By the federal government's and the Social
Security Board of Trustees' own admissions, the Social Security
program will be paying out more than it takes in in just 4 years.
At current rates (and assuming the federal government fully pays
back the more than $5 trillion it "borrowed" from Social Security's
accounts), the program will be completely out of money in about
17 years. What does this situation mean for current working
Americans? Is there any way to solve this problem?
Join Antony Davies and James Harrigan as they discuss this and
more on this week's episode of Words and Numbers.
[ video ]
https://fee.org/articles/social-security-is-doomed-now-what/
Remove the rich folks' limit and the problem is solved, stupid.
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