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Keyword: 96trillion

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  • Social Security: Whistling Past The $96 Trillion Graveyard

    06/10/2022 9:39:36 AM PDT · by blam · 56 replies
    Zubu Brothers ^ | 6-10-2022 | Lance Roberts via RealInvestmentAdvice.com
    Social Security has a problem. As Democrats push to expand entitlements to include free preschool and subsidized child care, little attention is getting paid to Social Security is a financial trainwreck. “The program’s payouts have exceeded revenue since 2010, but the recent past is nowhere near as grim as the future. According to the latest annual report by Social Security’s trustees, the gap between promised benefits and future payroll tax revenue has reached a staggering $59.8 trillion. That gap is $6.8 trillion larger than it was just one year earlier. The biggest driver of that move wasn’t Covid-19, but rather...