Robert Carnegie wrote:
On 19/06/2025 18:59, Lynn McGuire wrote:
“The US Likely Has 8 Years—At Most—Before Crisis”
https://www.schiffsovereign.com/trends/153000-153000/
“Yesterday afternoon the US government published its annual report
stating plainly that America has eight years left before a major
financial crisis.”
“This is not hyperbole. This is not conjecture. This is not some wild
conspiracy theory.”
“In fact, eight years until a crisis is probably the BEST CASE
SCENARIO unless Congress takes serious action soon.”
“That’s because the most critical trust fund in the Social Security
system (called OAS, or “Old Age Survivors) will be fully depleted.”
“That’s precisely what it says in the 2025 Annual Report of the Board
of Trustees of Social Security, signed by the US Secretary of Treasury
just yesterday.”
“But on top of that— by 2033, the total US national debt will be $52
TRILLION according to Congressional Budget Office (CBO) estimates. And
the CBO notoriously underestimates deficits… so in all likelihood the
national debt will be event greater.”
This is well documented in the future documentary “The Mandibles: A
Family, 2029-2047” by Lionel Shriver. In fact, the financial
apocalypse will probably happen around 2029.
https://www.amazon.com/Mandibles-Family-2029-2047-Lionel-Shriver/
dp/006232828X
Is the crisis because the OAS fund cannot
pay elderly SS subscribers due to the government
pilfering it, or is it because the government
pilfering has to stop when the money is all gone?
This attitude reflects the widespread view that Social Security is a
vault somewhere piled sky-high with 50-dollar bills, and the rest of the government occasionally sneaks in and grabs a few million and it's never
seen again.
That's not how it works.
All money collected by Social Security does go into the General Fund.
It's replaced by interest-bearing Treasury notes. I trust you're aware
that the US government has never defaulted on a Treasury note. Social
Security has never lost a penny to "government pilfering." There's no
such thing.
Chris
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