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social security insolvency



I was confused about the concept that the politicians stole from the social security. https://legalclarity.org/how-much-money-has-the-government-borrowed-from-social-security/ reveals a more nuanced explanation. The excess is actually invested in treasury bonds, and those bonds offset the national debt, allowing more government spending at lower interest rates. But, as this article points out, although this is a problem, the bigger problems are simply fewer workers paying "for the next generation" and people living longer. I.e., the financing would need to come from elsewhere to accommodate people living longer, increase the retirement age, or increase immigration levels by a bunch. All of these are politically unpalatable, I think. 🫤


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