Comparing one year of economic output with 75 years of liabilities isn’t really illuminating.
Sir Daniel Patrick Moynihan was quoted in the seventies about this, his response was “ Social security will always be paid, your money might not be worth much but we will print the money and you will be paid.”
WWG1WGA!
We can just follow the Zimbabwean model.
It’s black and devoid of sound Mathematics. Win win…
Back in the sixties when I was in grade school there was story after story in the three ny newspapers I read about how Medicare/Medicaid “is going to bankrupt this country.” It mystified me that apparently rational accomplished people could proclaim such a thing and no one seemed to listen. I had no idea what was what but I could see that the people speaking were not morons. It took awhile but here we are with a number we have no hope of paying.
$175 Trillion? Hell, ZEEPERS would tell me that it’s just a “rounding error” and we shouldn’t worry about debt and deficits.
I would gladly opt out of Medicare and social security if it meant I could stop paying those two specific taxes. That money would be better spent in investment instruments than in the slush funds our politicians are raiding.
When the left acts like a 3 year old and sees the entire world’s population as all
Soft fuzzy lost bunnies arhat need to come to America where we can all live in a rainbow filled happy carefree country.
Things go horribly wrong.
who will be the first Republican to suggest cutting retirement benefits, without mentioning Medicaid abuse from the Newcomers?
Is this from all those IOUs placed in the lock boxes over the years?
That number is ridiculous.
I’m 60 and have paid in for 45 years. Always had a suspision that SS would dissolve the day before I’d qualify...I’ve also said that if that happens I’d march on DC with pitchfork in hand. I can’t be alone.
Send the illegals home- presto problem solved.
I wonder how much they saved with COVID ?
“$175 trillion”
a doctor might cost $500,000/year
figure 300,000 doctors for the Medicare population
$150 billion/year
imagine for 50 years
$7.5 trillion
hospitals?
They are a series of clean rooms with some medical equipment and nurses. Nurses work for about a third of what the doctors do.
$2.5 trillion for the nurses?
SS & MC were the biggest financial scams in the history of the world until Global Warming/Climate Change/Climate Crisis came along.
Think about this: the money confiscated from your pay for SS/MC is AFTER the Income tax deduction, you get NO Credit for the employer match (yet it’s you actually earning the money), if you live long enough to draw it’s taxed again as you draw, and if you die your estate receives a whopping $250 and nothing more. Is that a great deal for the government or what? Oh, to say nothing of the value of the dollars you draw vs the dollars paid in (purchasing power of $1.00 in 1913 when the FED was established is now about $.03).
Raise the monthly to 350 for Medicare and the social security cap to 400K. Fixed. /sarc
Americans love variants of socialism.
Defund the illegals life long programs problems solved.