We are going to have a depression globally. It will start here and in the U.K. OFFICIALLY, but in reality, it's already begun in emerging economies.
there is a simple solution. it only takes political will. means test social security. have an honest discussion on spending 30% of medicare dollars in the last years of a seniors life.
Who knows, but the collapse of the dollar is coming sooner than later, with trillions being printed the dollar is going to be worthless.
Implementing means testing is outrageous if there is no option to opt out of Social Security. Essentially, you will be telling some people to "contribute" to the system even though they will never see a penny of their money.
It's called tax. They will just rename the contribution as tax and means test at the other end.....like most pensions in other countries.
why would they rename it? tax is an unpopular word. in any case these numbers have no basis in reality. they are based upon low rates of inflation. since payments are adjusted for inflation the deficiency will be even greater. these kind of conditions precipitated runaway inflation in South America.
how about an honest discussion on medicaid dollars and the lifestyles that drain the system. perhaps people who overdose on drugs should not get any government aided treatment there is a simple solution. the US needs to become fiscally responsible in every area of its economic life. will it happen? doubtful. americans are soft and are irresponsible pain avoiders. europeans are not any better.