Awwww! The demoncraps won’t have anymore money to play with.
Gramps said no big deal, he’s got a shotgun to go do his shopping with.
What trust fund? It is made up of IOUs as the SS payments are part of the general fund.
If we keep Trump in office and STOP throwing billions of dollars away on illegals the program won’t go broke.
Can members of previous decades of Congress and Administrations who kicked the can down the road be used for selling their body parts to raise funds for SS?
Do welfare and food stamps ever run short?
What happens? Fed.gov just issues more debt in our printed, fiat currency.
The Federal Reserve suppresses interest rates and/or engages in buying up that debt.
Problem solved, can kicked down the road.
Social security would be nowhere near bankrupt if congress paid back the billions upon billions of dollars they ‘borrowed’ from SS funds. Congress is on the hook to SS.
Maybe Social Security should not be allowed to spend more than it takes in. Try that!
Wait...
This cannot possibly be happening. AL Gore told me that SS was in a “Lock Box”, and did not need to be saved. The media told me that anyone daring to question that was a hater of OLD PEOPLE!.
What do I do now?
Probably the same thing that happens when any other ponzi scheme blows up....last people to pay in fet the shaft
It’s not a trust fund. It’s a Fedzilla run Ponzi scheme.
Soc Sec might run out of funds but you can bet welfare will continue to be funded.
My maternal and paternal grandparents had their share of tough times during the Depression. Even so, they managed to save and invest wisely. They weren’t living like the Trumps by any stretch of the imagination but still did very well for themselves. And with Soc Security as a supplement lived out their later years comfortably.
Government will print money to avoid reducing the benefits.
Think it has hit the fan over kids at the border, screw with Social Security and see what happens.
Lol, very little will happen since excess SS receipts were spent each year and the "trust fund" is nothing but a bunch of US government IOUs made out to the SS fund.
They'll just make different accounting entries and recognize the current year SS deficits and lump it in with all the other government debt after the "trust fund" has been written off the books.
From the article:
“...This means that if you’re 50 years old and don’t have a dime at present, maxing out your 401(k) until age 67 will leave you with roughly $755,000 in retirement savings provided your investments generate an average annual 7% return during that time (which is more than doable with a stock-focused strategy)....”
OK now, who actually has gotten an average of 7% on their 401(k) ??
bmp
We start harvesting asteroids.
The most important thing you should know about Social Security's "trust funds" is that they are NOT trust funds. They are simply off-budget debt, mislabeled as a deliberate and highly successful tactic to misinform and manipulate the American public. When the nominal "trust fund" is exhausted, Congress will face a choice: cut benefits by about 25-30 percent to match payroll tax revenues; raise Social Security taxes, making an already lousy program an even bigger loser for even more people; or accepting general revenue funding. The latter is probably the easiest option politically, but at that point pressure will mount to finally accept Social Security as nothing more than an old-age welfare program and to rationalize it as such. Benefits will be means tested and people with retirement income, significant pensions and/or private savings will lose their eligibility.