Social Security Faces $9.6T in Unfunded Liabilities—$83,894 Per Household

Cybercast News Service ^ | June 3, 2013 - 1:08 PM | Ryan Kierman

[Olog-hai]

The Social Security program faces $9.6 trillion in unfunded liabilities over the next 75 years, which is up $1 trillion from last year’s projection of $8.6 trillion, according to the latest report from Social Security’s board of trustees.

The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2087). …

[no-s]

So you’re saying it wasn’t theft when they stole from you?

The fact of it was a theft enabled by gov't power. However we could be made whole commensurate with those "contributions" we were forced to make at gunpoint. Now the SS defenders constantly assert our money was "invested" in special gov't bonds (every once an a while they'll pull them out of a drawer in Ohio somewhere) and it's solvent, don't worry.

Touting the FEDGOV as the beneficiary of this crime means it's the FEDGOV's assets we have claim to. Of course this is verging on low-probability nonsense - for one thing we probably need gov't permission to sue it over this - for another thing the FEDGOV isn't allowed to be bankrupt (full faith and credit, remember?).