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Social Security Is Doomed. Now What?

There's no way to sugar-coat it. Social Security is going to fail. There are, of course, ways to possibly extend its life for a few years, or even decades, but ultimately, like all Ponzi schemes, it will collapse. By the federal government's and the Social Security Board of Trustees' own admissions, the Social Security program will be paying out more than it takes in in just 4 years. At current rates (and assuming the federal government fully pays back the more than $5 trillion it "borrowed" from Social Security's accounts), the program will be completely out of money in about 17 years. What does this situation mean for current working Americans? Is there any way to solve this problem? Join Antony Davies and James Harrigan as they discuss this and more on this week's episode of Words and Numbers.

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Quick Hits

Splitting up Amazon

Former Walmart US CEO says Congress should consider splitting up Amazon

National pencil day


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Cancer Warning Labels Based on California's Proposition 65
Judge Rules Coffee Needs Cancer Warning, Giving Starbucks & Dunkin' Donuts Jitters
De Blasio eyes vacancy tax for greedy landlords seeking top-dollar

Topic of the Week: Social Security

Social Security Administration Spending Tops $1 Trillion for First Time
Summary: Actuarial Status of the Social Security Trust Funds, July 2017
Social Security Trust Fund Cash Flows and Reserves
The Future Financial Status of the Social Security Program
Social Security Online History Pages
How Privatized Social Security Works in Galveston
You Asked: Can Kentucky Teachers Retirement System participants receive Social Security?
Why Aren't All Teachers Covered By Social Security?
Widespread teacher absences close Kentucky schools amid anger over pension bill


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This post first appeared on FREEDOM BUNKER: The Best Libertarian News And Chat, please read the originial post: here

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Social Security Is Doomed. Now What?


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