The Social Security system will be bankrupt in seven years. That means the lock box containing the taxes collected for it is empty. Actually, it is already empty, filled only with IOUs. After it officially goes bankrupt, it will become another deficit bill of nearly $7 trillion in ten years.
It could be delayed by raising the retirement age as Reagan did but it’s more likely our leaders will take the path of least resistance.
Dr. St. Onge recommends running it like a 401K and keeping it out of the grubby little hands of both parties. He doesn’t think that will happen and it will just become a deficit, bringing more inflation.
Watch:
Politicians are inherently corrupt. They stopped giving pensions because it was so hard to steal from.
It was bankrupt decades ago. The funds people pay are not saved but used to pay past debts. It is effectively a government enforced Ponzi scheme, an evil lying tax on those that work.
If the dems get back in power, we probably won’t even see the 7th year.
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