Another silly article by Simon Black (Sovereign Man) in which he makes numerous mistakes. Simon Black says the US government itself calculates that the long-term Social Security shortfall exceeds $46 trillion. Simon Black is WRONG. The unfunded obligation through the infinite horizon is $34.2 trillion (Table VI.F1.) not $46 trillion.

https://www.ssa.gov/oact/tr...

Simon Black makes the mistake by adding the unfunded obligation through the infinite horizon which is $34.2 trillion to the unfunded obligation through 2091 which totals $12.5 trillion. The $12.5 trillion unfunded obligation through 2091 is already part of the $34.2 trillion unfunded obligation through the infinite horizon.

And the reason why this is not front page news is because it is common knowledge. Most people already know about the problems with Social Security.

And of course Social Security does NOT require a bailout 60x greater than the 2008 emergency bank bailout. The 2008 bailout was not just $700 billion as Simon Black must think but almost $17 trillion. So Social Security needs a bailout 2x greater than the 2008 bailout.

I checked out what you said and you are correct JMiller.

This is my annotation of this article.
https://moneydelusions.com/...

6/22/2016 Page Content

WASHINGTON - Today the Social Security and Medicare Boards of Trustees issued their annual financial review of the programs.

Taken in combination, Social Security’s retirement and disability programs have dedicated resources sufficient to cover benefits for nearly two decades, until 2034. The Medicare Hospital Insurance Trust Fund will have sufficient funds to cover its
obligations until 2028, two years earlier than was projected last year, but
still 11 years later than was projected in the last report issued prior to passage of the Affordable Care Act.

where is the source for this information? no source no credibility.
and will this guy ever learn to write using paragraphs instead of single sentences? its very annoying.

We have no way to know the actual rate of inflation. Whatever it is, it is at least greater than the tax rate--plus the deficit spending of the U.S. plus that of state and local governments including school districts and the deficit spending of all retirement plans.
Increasing savings now is pissing in the wind without concurrent drastically cutting current spending, which will dry up investment income as well as wage income. The world has already arrived at the tailings of the giant Ponzi scheme that began with the industrial revolution.
Will the human race disappear in a series of mushroom clouds? Probably--if we don't die off of hunger. The sky is falling! the sky is falling!

Of course they won't cover it. Saving Social Security is one of Donald Trump's central campaign promises, and if they did cover this story they would give Trump the opportunity to go out and tell everyone he can solve it by bringing in more money.

Nice hustle DB! Was wondering what was being pitched. Held my breath to the end. Does this come naturally or did Simon Black have attend Wharton B. school to pull it off?

"Social Security is running out of money. “
Absolute rubbish!!!
Just print some more money..... they’ve been doing it since 1913.
What’s the problem?

For God's sake this should be of no surprise to ANYONE who has been contributing to the system. This is why our politicians are not worth a shyte. They have been using the SS system as petty cash for DECADES robbing Peter to also rob Paul with NO INTENTION of paying anything back. THEY get pensions for the shoddy job they do. In fact the model of that corruption has been experienced in many major city's civil servant pension funds. The criminal enterprises running the cities have been stealing from the Police Officers and Fire Fighters as well. These guys have to take reduced pensions and lose the health care they were promised before they even get a chance to retire. It is disgraceful what is happening on local and national levels. WE THE PEOPLE have to hold these elected officials accountable for the crimes they commit in the names of the CITIZENS that voted them into office. THEY WORK for US, they don't rule us, they don't look out for us. EVERYONE has to learn what LIBERTY really means, what FREEDOM really is. This SHYTE has to STOP!
Their models of ideal reproduction don't match up with their plans for immigration, illegal OR legal. In the USA standard citizenry exhibit reproduction at <1.5 per family (FAMILY???) where as low income entities (not FAMILIES) reproduce at a much higher rate. The immigrant populations are reproducing at higher rates as well and no one is taking into the entitlements that Welcoming Cities, Lutheran Family Services and the other "charitable" relocation non-profits are teaching these people to live off of instead of transition from because the Non Profits are benefitting from federal funds supporting refugee influx efforts. Why would they want to lose that teat feeding them? We as a nation have been sitting on a house of cards for so long that many believe the tripe that the talking heads are selling. The house of cards will be a population powder keg when the Government runs out of money to feed the leaches. Socialism only works when you have people willing to pay into the kitty, history has and continues to show us it is not a viable model.
THIS WILL NOT END WELL UNLESS WE THE PEOPLE TAKE BACK CHARGE OF WASHIGNTON AND ALL THE ENTITIES BELOW DC WITH THEIR HAND ON THE RUDDER and their sticky fingers in the TILL .

What you are saying is that the collapse of the Western economies has little to do with economic or financial entities. What we are seeing is the collapse of moral values. "No man may serve two masters: for either he will hate the one and love the other, or else he will hold to the one and despise the other. No man can serve God and Mammon". Remember? You'd better!

My faith is in God, ultimately He and only He has my destiny in his hands. I'm cool with that. He also has left me here to finish the job He has planned for me or He would have already called me home. We all have the power over our own actions, words, and reactions to the path of life and knowledge. If we do not like what the government is doing to us I will say so. I will also conduct myself honorably and honestly and I expect my elected officials to do the same. I am under no illusion that most are incapable of this, I don't let it get me angry, I also will not let it go unchecked. I will do my part to enlighten my fellow citizens that the corruption lies on both sides of the aisle and at all levels.
It all started with a decision (a bad one) about an apple.
I remember.............