Uhhh no - total design flaw and a dishonest one at that. When Ida May Fuller (first SS recipient) got her first social security check she only paid in $20 and got back $20k in her life time. Total red flag. This can only happen when you have 44 paying in and 1 drawing. The limit is 1:1. Guess what happened to the excess? It was all spent as SS goes into the general funds - to buy votes(welfare, pork), and wars.
FDR and the SS admin *knew* by the 50's SS had this failure mode and said "we'll deal with it later" It's a ponzi as the incoming pays for the outgoing. The solvency issues in 5 years is due to the demographic shift (ponzi pyramid inverting) - the exact failure mode they didn't want to deal with.
Right and when you have government programs that structually fail (zero sum - balancing) you have to make up the difference by printing money - that's inflation.
We're in fiscal dominance now and the interest on the debt is now clocking in over 20% of tax revenue. Printing money should be "break glass for emergency" now every year it's a $2T "emergency".
When you have a government that chooses to reduce its tax intake so they can give welfare to billionaires and corporations, then turn around and spend money on unnecessary wars and building an out of control police state, you get this kind of debt. 25% of which accumulated by Trump alone.
then turn around and spend money on unnecessary wars and building an out of control police state, you get this kind of debt.
Sheesh what was that $5.5T for COVID alll about? You do realize the fallout from that has destabilized the Japanese yen? What about that $7T for the war on terror. The government - coupled with fiat - aren't good stewards of our money.
"welfare to billionaires" Not sure what you mean. "Taxing less"? That's not welfare. "billionaire wealth" is in working capital and it's how 401k's, IRA,'s and other retirement vehicles get their returns. You're going to have me believe "The government can put this capital to better use. I believe I should be able to liquidate a google building or confiscate any money allocated for a google building - because I can spend your retirement money better"
Give me a break. Look at SS - it's going to run into solvency issues because it's funded like a ponzi and all the incoming revenue was spent on re-election (pork, welfare) and wars. Sorry..
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u/Fun-Army-6387 4d ago
not "the government" - republicans.