Just a reminder of another fiscal bomb set to go off.
Indeed, the annual Social Security Trustees Report was released a few days ago and the updated numbers for the government-run retirement program are rather sobering.
Thanks in part to sloppy journalism, many people only vaguely realize that Social Security is actuarially unsound.
In reality, the level of projected red ink is shocking. If you look at the report’s annual projections and then adjust them for inflation (so we get an idea of the size of the problem based on the value of today’s dollars), we can put together a very depressing chart.
How depressing is this chart? Well, cumulative deficits over the next 75 years will total an astounding $40 trillion. And keep…
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