The folks who want to get rid of Social Security imagine that the government can simply cancel the system and that debt will disappear.
Which, of course, is nonsense. What would more likely happen (in this very theoretical situation) is the people to whom it is owed would demand a refund (so you'd have to pay all of it back right now), or there'd be violence of a very selective sort ~
We are stuck with the debt, payments will be made, Congress will live to see another day.
“We are stuck with the debt, payments will be made, Congress will live to see another day.”
What is going to happen is that the government is going to try to inflate the payments away so that your money is worthless.
Thanks boomers! Good thing you stuck it to the man!