That revelation, which was greeted with a ho-hum by the media, basically announced that by 2033, 21 years from now, the so-called Social Security trust fund will be empty. The only reason this was even announced is because we are approaching a presidential election campaign, and...
The "trust fund" is just IOUs from the feds to the feds. There's nothing tangible in it. No productive resources have been developed or set aside to form the basis for payments. There is only the blind trust of older Americans that politicians will continue to rip off younger generations to pay their expenses.
When Texas Gov. Rick Perry, then in the early stages of his short-lived quest for the Republican presidential nomination, referred to Social Security as "a Ponzi scheme," he was excoriated by the press, left and right, and by his fellow Republicans, as well. Earlier this week, government actuaries revealed that Perry was correct.
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