The trust funds for Social Security and Medicaid will run out of money in as little as 8 years, a shorter time frame than previously estimated, according to a report issued Wednesday by the programs' trustees.
The Social Security fund will run dry in 2033, unless Congress combines the program's old-age and disability funds, in which case insolvency would arrive in 2034, the report found. A finding last year predicted Social Security would become insolvent in 2035 or 2036. Medicare's hospital insurance fund is expected to run out of money in 2033, the report said.
If Congress fails to address the projected budget shortfalls, automatic cuts will dial back Social Security benefits by 23% and Medicare hospital benefits by 11% in 2033, the report found.
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It's not going to run dry. It's already gone. It was stolen by Congress, et. al., and the criminal organization you call The Federal Government. Fiat currency has been keeping it afloat.
ReplyDeleteSo what they're really saying is, "We're pulling the plug on such a such a date."
ICYMI It's all bull. It's not running dry, it's been grafted by the Demos for years, maybe forever. Thank Elon and the Whiz Kids.
ReplyDeletePonzi schemes always implode when the original investors decide to remove their investment. FYI about half the boomers that can retire have retired. The scheme is unraveling quicker than estimated due to the vast amounts of fraud it pays every day.
ReplyDeleteThat 4.7 trillion dollars stolen by usaid would've gone a long way to fix this. Add in 7 trillion in wasted covid bailouts and the 250 billion to Ukraine. WE WERE ROBBED AND NO ONE"S GOING TO JAIL?
ReplyDeleteWho was it that pushed for SS to be put in the general fund? That asshat Joe Biden.
ReplyDeleteI remember my parents bitching about that. as my dad said they pushed it into the general fund so they could spend it on "pet" projects" and the like. BTW, giving it away to all of the illegals didn't help much either.
DeleteClinton bought votes when he pushed people from welfare to SSD back in the 1990's too.
as others have said/stated, they stole it.
Yeah, so... when does Welfare run out of money?
ReplyDeleteand all the medicaid and ssn fraud? and not a single schmuck has been arrested.
ReplyDeleteFirst things first. And, yeah, you want these cases to stick when they're submitted to all those judges that said the '20 election had no "standing".
DeleteSSA money was put into the General Fund in the early 60s, so they will never run out. Them saying they will is garbage.
ReplyDeleteReturn Social Security to it's original plan as a retirement fund for workers who have contributed and it should be solvent far into the future. Stop paying Social Security to non workers, non-contributors, loafers, scammers and immigrants who have never paid into the fund. And don't tell ue it's not happening because everyone paying attention knows that it is.
ReplyDeleteGee, all the money the US under Clinton, Obama and Biden* sent Iran and the Ukraine and Syria and, well, everywhere else, could have been poured into the SS slush fund and we'd have no problems. Until the Dems stole it again.
ReplyDelete