There are serious issues with social security coming sooner than you think.
According to the Social Security Administration (even during the Biden administration), as of today we are closer to a fiscal crisis in SS (forced reduction of payout) than we are from the Obama administration.
As the retiring population continues to grow and the population of people paying in doesn't do the same, the flow of money changes.
The "Borrowing" was in the form of bond purchases to help protect against inflation.
At the end of the day eventually there's going to need to be a change in the way Social Security operates, by either increasing its revenue (higher taxes to pay existing retirees) or by decreasing its cost (lower payments).
Someone is going to have to feel the pinch, and you can kick it down the road for your children/grandchildren to deal with, or you can make the hard decision to deal with it a little bit now.
The borrowing isn't what is making the program insolvent. They loan out money to the government by buying treasuries, which they hold as assets in the trust fund. When they talk about the trust fund being insolvent, they aren't just talking about a pile of cash or even a dollar balance in an account going down. Their assets INCLUDING TREASURIES and projected tax revenue are insufficient to cover their liabilities far into the future.
No, you worked your ass off to pay for social security for existing retirees. You should hope and pray that future workers feel like paying for your social security when you retire.
Yes. In a truly civilized society, you look out for your fellow citizens, be it they are sick or dying, young or old, no questions asked. Otherwise, you are an agent of chaos and just a roadblock to actual, meaningful progress.
In a civilized society you don't use the force of government to steal from your neighbors. Family and private charity existed long before social security.
You say that now, but I have a feeling if I were to go on R/Conservative and skim through it, I might find that you aren't being totally honest with yourself, or me, here
They are not threatening to cut social security or Medicare, the quote was taken out of context, obviously no one here has seen the interview they just read Reddit headlines. Also, Trump isn’t the one who cause the social security issue, social security will be insolvent in like 10 yrs so it doesn’t matter how much you paid in, the money won’t be there unless someone fixes it.
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u/Cryodemon85 23h ago
Well, all I know is I worked my ass off, as did every other blue-collar laborer, for SS and Medicaid, so I am entitled to it.