We’ve been hearing for a long time now that the Social Security program has been running out of money. Next to nothing has been done about it by either party. And instead of shoring up the program, the Biden-Harris administration’s climate change agenda has been on steroids with Democrats handing out trillions of dollars to get rid of fossil fuel and force everyone into electric cars.
The Daily Mail [1]reports that we are on a current trajectory for the Social Security trust fund to be depleted by 2033. That’s only ten years away. That’s bad news for anyone currently receiving Social Security checks (almost 70 million people in 2021 according to the Social Security Administration) and those who will be doing so in the next decade.
As with most things, our politicians WON’T do anything about the problem until they absolutely have to. And at that time, they will probably have to make drastic decisions. Then they will use that “ammunition” against their opposing party in their political games. That’s their plan. A good plan for them. A bad plan for us.
And when the politicians decide that Americans have to retire later or get less money, will there be a riot like what is happening in France because the government there wants to raise the retirement age from 62 to 64?
Americans aren’t going to want to get any less money than they’re been promised (possibly 25% less) and they certainly aren’t going to want to have to work until they are 80 or 70 or even 68 or 69 – and all because evil politicians spent all of their money.
A March Associated Press-NORC Center poll [2] showed that 79% of respondents opposed reducing the size of Social Security benefits.
Because of the decline of people having separate pensions and getting lower savings rates, Social Security is an important part, and quite often the only part, of the income of many retirees.
Richard Fiesta, executive director of the Alliance for Retired Americans, told Newsweek, “I do not think raising the retirement age above the current 67 is going to be at all politically popular, and people who proposed that would see a backlash.”
Yep, I am guessing the same. Especially after years and years and years of politicians spending our money on their stupid pet projects and electric vehicles, CRT and diversity training, censorship of Americans, sex change operations for LGBTQ soldiers and many other things like studying why Chimpanzees throw their feces and building a soccer field for inmates at Guantanamo Bay, Cuba.