Trust Funds. Those programs are designed to provide a source of income respectively to former workers who have retired at the end of their careers or to those who cannot work due to a disability.
Though the two funds are separate under law, the Treasury Department said the hypothetical combined funds would be able to pay scheduled benefits on a timely basis until 2034. The Treasury Department said it estimates the level of worker productivity and thus GDP is assumed to be permanently lowered by 1% even as they are projected to resume their pre-pandemic trajectories.
Medicare's hospital insurance fund is expected to be depleted in 2026, the same date that was projected a year ago. At that point, doctors, hospitals and nursing homes would not receive their full compensation from Medicare and patients are likely to bear the responsibility for any cuts to coverage.
All Ponzi schemes eventually come up short on funds.
Any problems with welfare or food stamp funds?
Social Security is a Ponzi Scheme by Definition. Put individual contributions in an index fund, let it grow for 45-50 years. Pay out as dividends upon hurdle date (Age). Solved.
Stop stealing from it to pay for false wars.
Congress must increase the ceiling for withholding Social Security tax. That’s the only way I see to avoid insolvency. Cutting benefits not fair to those who worked and paid in all their lives.
Yup, zero accountability, it’s covid’s fault…
It should never run out of money.
So why the fuck am I still being forced to pay into it
But the 'trust fund' for the military industrial complex has endless funds. Kick rock with this propaganda bullshit.
Ya keep going free money
Isn’t SS paid out to the retired and elderly? Who else receives these funds b/c it’s not welfare.
The government borrowed from the Social Security Trust Fund and never paid it back.
Buy $DRV
Then just change the number on the screen? Fixed.
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Then they need to stop taking it out of my check so I can find other ways to save for retirement!
It will never happen in our lifetime. Legislators want to get reelected.
Don't worry it'll run out the year I'm supposed to get it.
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TaxTheRich
No it’s the Biden administration giving our SS money to these illegals coming in
Covid-19 is so fiscally irresponsible, vote SuperAIDS-21 for the future of America!
Hmmm...let's see...money 'borrowed', not paid back and $300 million per day in Afghanistan for 20 years...I'm thinking there's got to be money somewhere. The Surprising Amount of Money Congress Has Stolen From Social Security themotleyfool stocks
Just lift the tax cap allowing people making somewhere close to $120k to stop paying in on every dollar after that. Require everyone to continue paying in. Done!
Uncap the Social Security payroll tax. This will be an important part of SS underfunding.
SenSherrodBrown clairecmc POTUS RepTimRyan RBReich Support the Soc Sec Fund w/the billions of dollars used for 20 years to make defense contractor VERY RICH while USA poured $$$, munitions, and our grandkids into a bad policy war in AFGHANISTAN.
How is it running out of money when you take it out of every single one of our checks.? AUDIT!
No!
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CNBC Then why the F am I paying into it?
CNBC Then they best be giving me what the eff Ive paid into it now!!! 12 years is when Ill be retiring! WHY Am I Still paying into it
CNBC The government does not understand economics.
Another win for the boomers that have destroyed two generations because of their greed. Nice.
Would be great if we could opt-out of contributing to this.
How so? With all the deaths, I’m guessing less people are collecting. trump drained it didn’t he?
Better get that UBI GreatReset started promptly then! Yet please explain to a great many of your viewers exactly what modern day fiat money actually is. As you may recollect, in the 70's/80's Fiat was known as Fix It Again Tony: It looks like a new fix may be needed soon🙄
Just showing how big of a Ponzi scheme it really is
Well, the US Military is working hard to pay some of it back. Thanks 😑
It might be a lot sooner than predicted once we deport all undocumented workers.
THAT IS BS. WHEN THERE WAS OVERAGE FUNDS WERE NOT PROPERLY INVESTED AND THE SYSTEM STOPPED BEING FUNDED AS SUCH RELYING ONLY ON WHAT CAME IN FROM PAYCHECKS OF AMERICANS. IT WAS INGNORED AND THE GOVT, NEEDS TO FIX IT MISTAKES, IT WAS LET GO FOR 40 YEARS, LIES, LIES LIES,
Turns out the US government is a bad investment.
Can someone explain this to me like I’m 5?
RUN OUT OF MONEY? C'mon man, just keep printing it up..
Didn't people die? Older folks that received SS payments? I think we need to see the math before we just blame Covid .
Great so I’m assuming they’ll stop taking money out of my paycheck for SS now
Why do I have to pay for this crap when there’s zero chance I’ll benefit from it when I retire? It’s just “redistribution of wealth” to old people. Where are their boot straps? Personal responsibility? A bunch of socialists!
Social Security CAN'T run out. It's literally impossible. This is a scam story.
it's time for Jeff Bezos and Elon Musk to do their part and give every American $1million.
Shocking. Gen X has known since we were teens that we were never seeing any of that. It’s been fun paying into it for decades 😉
They can just print more money. Save yourself the worry, buy BTC
Yeah 100% ready to stop paying into this. Been contributing my entire life and it won't be there for me. Just end it!!!!
The (working) AMERICAN should be able to retire at 55 with full benefits an paid health care. (working = someone who actually earns his $.)
Every year is the same thing. What else is new?😂
Damn, maybe we should, like, use the money that we're going to save for not being locked into an aimless 20 year-long war.
Remember how Trump wanted to give a 6 mo break on payroll taxes further depleting funds
Just ask them to freeze the nearly $2 trillion in defense spending for a single year, that should help
Doesn't this really mean Society Security will start calling in the money it has loaned to the federal government over the years? This situation was planned for and is why Social Security has been taking in a surplus for decades.
I blame Republicans for this.
THIS IS A LIE SS CAN BE SAVED BY ONE ACTION RAISE THE MINIMUM WAGE TO $15 PER HOUR AND YOU ADD 8-9 BILLION DOLLARS ANNUALLY TO THE SS RESERVES IMAGINE IF WE WERE PAID LIVABLE WAGES WHAT WOULD HAPPEN THE DEPLETION IS DUE TO THEM DRIVING WAGES DOWN FOR THE PAST 50 YEARS
TaxTheRich goddammit.
Well, we’re not in Afghanistan anymore. How about we send some of that war money we always seem to have and put it in Social Security?
Does this calculate the Trillions is Social Security all of our Covid orphans are going to collect for the next decade? Plus the death of 600,000 Americans is also a loss of funding.
Yeah, because of COVID🙄
It doesn't actually matter, it's a payment made in a currency we issue funded by debt repaid in a currency we issue. MMT, baby.
More like due to unnecessary, failed wars.
Plus costs of recovery from climate disasters
you guys already know social security was near bankrupt. Don’t even try to begin to use COVID as the excuse. Convenient though
Why didn't a bunch of recipients die early?
Well now that we dont have to pay for crazy wars im sure it will be easy to fund social security and we can tax the wealthy more
Good thing the 'trust fund' is just an artificial creation and Congress can choose to continue funding 100% of the benefits for as long as it wants. (Ya know, the same way they fund wars and corporate bailouts.) TaxesDontFundSpending
It's time for these billionaires, especially the ones joyriding into space to pay their fair share of taxes. Then Social Security will be fine. We've all paid into Social Security and it's my damn money and when the time comes, I want it.
ETP903 Pay back the fund that was taken by Republicans to fund their war.
Funny we never run out of money for food stamps, Medicaid or welfare.
Will retirees get a eviction moratorium too?
I'd like the $120,000 I pay into it each year back please
With all the seniors dying the money should last longer. So who is getting the money now?
Just have them invest the money in the sp500
Well then it might be a good idea to stop funding it and immediately begin transitioning to a moneyless shared resource based society were we wouldn't have to deal with financial lunacy, corrupt politicians, capitalist and socialist spin doctors and global medical meltdowns.
Simple solution. Make everyone pay ss tax on every penny they earn. In other words eliminate income limit.
Raise the cap.
The Social Security trust funds can't run out of money unless Congress allows them to run out of money. Those trust funds are nothing but an accounting fiction. Don't let these con artists bamboozle you.
I call BS! Allot of older folks have passed away from Covid so imagine how much has been saved in making SS payments
Our parents won’t have pensions/SS payments ; and neither will we Wake tf up people and demand higher taxes on the rich
due to tax evasion from the ultra rich.
Here are the suitable ways to fix it. It has been fixed before
Yeah well you better go find it.
Make the wealthy pay their fair share
ZIRP & QE are deliberate theft from SS & Medicare on a mass scale. Far worse crimes than any bank ever robbed. But while we're at it: ScrapTheCap
Now do the military trust fund. Fear mongering bullshit.
Stop relying on the faith of the government and invest your money in yourself. Spend the extra 20% of time a year to understand personal finance and risk management
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