Everything you need to know about the failure to reform Social Security can be found in this section of the Trustee’s report:
Over the 75-year period, the Trust Funds require additional revenue equivalent to $4.6 trillion in today’s dollars to pay all scheduled benefits. This unfunded obligation is $600 billion higher than the amount estimated last year.That’s “additional” as in additional massive payroll taxes on top of the 12.4% that workers are already paying, a tax that has risen so relentlessly that 74% of Americans now pay more in payroll taxes than income taxes. But, by all means, let’s wait another year.
Extra – Captain Ed: “Did we say ‘I told you so’ yet?”
And this – Nice comment from this Q&O post: “When Social Security finally crashes, the SOTU address moment where the Dems wildly applauded doing nothing will be played over and over and over again.”
One year balance of payments deficit $800 Billion. Money isn't what it used to be.
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