this post was submitted on 26 Nov 2023
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A Boring Dystopia
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That's not why it's running out of money tho. In fact it's not running out of money they just took it and used it for other things like the military.
Social security is not its own fund. It used to be. They stole a bunch of money from it when they merged it into the general fund.
The idea that SS is insolvent is simply a lie.
No I don’t think this is right either. With the boomer generation, SS always had a surplus: more being collected than paid out. Govt financial shenanigans issued debt to let other parts of the govt borrow this “surplus”. However now that the pool of workers paying in is much smaller than retired folk getting paid, that surplus is rapidly turning into deficit: it needs to payout more than it collects.
There’s never been a “fund”, never been “savings”, there’s nothing to “steal”. However SS can no longer meet its commitments (in ten years) so something needs to change
You really need to research. Yes it was its own fund initially.