I have always assumed that it would collapse before I got old enough to draw on it.
Just pass a unanimous consent Multi-$$$$$$$$$$trillion dollar bailout...../s
Just asinine. On the other side of that, millions of the middle-aged and elderly will die a decade or more before they normally would have. One Italian joked then the state pension fund must have come up with this virus in collusion with the national health care program, thereby zeroing out hundreds of billions of euros in state-funded pension and medical care obligations.
But the welfare system is sound right?
Social Security will never run out of money as long as the Government can print money.
This ponzi scheme needs to end permanently.
I never signed up for it. Someone else signed me up.
I never had the chance to determine if i wanted to enter this contract.
They also put the signers, my folks, under duress at the hospital saying they can’t/won’t let babies leave without being enrolled in SS.
And once signed up, by someone else, you have no way of leaving the contract and getting your money back that was collected.
If this were done to someone for any other comtract they’re forced into or someone else signed for them, there would be considered massive violations of contract law. Coercion, duress, being told there’s no way to volutntarily not sign up, etc, no way out of a contract for a person who never agreed to all the terms in the first place.
Pure BS. SS is wealth transfer scheme (aka as welfare) and cannot go broke. It takes from current taxpayers and gives to current recipients. All taxation and benefits are political calculations.
To imply that SS can go broke implies it has legal binding obligations and that revenue is static. It does not.
SS holds US Treasury bonds. Which are redeemed via current tax revenue. It is a shell game.
Year: workers to beneficiaries
1940: 159 to 1
2013: 2.8 to 1
When it started, most people died before they got any benefit. The so-called safety net was really a tax, and a safety net last. Now the unfunded liabilities is drowning us in future debt.
Trillions in debt and spending like there is no tomorrow. What could possibly go wrong? America is too big to fail! /s I actually didn’t think the fall of America would be this swift in my lifetime.
Bye bye SS pot of $$$.
Even my one time neighbors, she from Britain, he from Iran, bring his mom & dad to US (not one of these folks are citizens, mind you) sign up parents who soon get SS checks.
Then there are SS employees themselves who get checks mailed to themselves for long-dead relatives!
Every gub’mint program is rife with fraud and have been for decades but so long as the golden goose kept the money flooding in, all’s OK.
That goose has been killed and we’re about to eat it as pantry is bare!
The future never arrives. The piper never has to be paid. The road down which we are kicking the can has no end. This is the foundation of modern government.
OTOH, a lot of people who have been collecting have now died.