2018-04-09 03:32:37 UTC
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 ]