If I had to bet, I'd bet that you're right. They'll try to print their way out of trouble. There is no other politically safe choice. And why not? That method worked for the Wiemar Republic.
Most likely .gov will just increase the national debt as long as there is a .gov—after that, it won’t matter anymore.
Yep. I turn 66 in two years. I can live in central KY on SS alone when you factor in mine and my wife’s. And if they were to gut it, well, that would be the least of my problems because the country would be in civil war. The hot kind.
I used to say to my classmates in high school who were worried about US savings bonds not being honored by the government that if that ever happened, that would be the least of their problems.
There are two ways they may try to kick this can down the road:
1. For new recipients, keep moving the eligibility year back, like they’ve been doing.
2. For existing recipients, do math magic to keep the CPI percentage increase behind the REALY cost of living percentage increase. Eventually, SS will become a very small number relative to the actually cost of living. Imagine getting $3,500 a month in SS but the minimum wage is $100 an hour and the cost of living reflects that.
Sound crazy? Hop in your Delorean and go back to 1960 and ask the average person what they think about a $10 an hour minimum wage.
If I had to bet, I'd bet that you're right. They'll try to print their way out of trouble. There is no other politically safe choice. And why not? That method worked for the Wiemar Republic.