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"Social security could have it's date of insolvency extended. It's currently predicted to be insolvent by 2037." The US Federal government has both a literal a
by RockIslandLine 7y ago
"Social security could have it's date of insolvency extended. It's currently predicted to be insolvent by 2037."
The US Federal government has both a literal and a figurative money printing press. Congressional appropriations create money. Revenue is an obsolete concept for currency issuers. As a Federal program, it is literally impossible for the program to be "insolvent". Social Security benefits can be paid at full rates for as long as Congress decides to do so.
- logicchains 7y ago>Social Security benefits can be paid at full rates for as long as Congress decides to do so. Not at "real" rates, because a bunch of stuff Americans consume is produced overseas, and if the government starts printing large sums of money then exporters in other countries are going to demand more of it in payment for goods, so the purchasing power of the amount paid to retirees will decrease.