No, the system isn’t going to go bankrupt. The trust fund, essentially the accumulated difference between what what paid in as tax and what was paid out as benefits plus interest, will be depleted in the future as we start to draw down the trust fund. At that point, what is paid in will not be sufficient to cover the benefits being paid out and the benefits will be reduced by some percentage, perhaps around 25%. This issue is technically very easy to solve but it is still a political problem. Stay tuned ....
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Originally Posted by LateBoomer
this is of course due to a 20 year high in inflation. I think it's going to hasten bankruptcy of the system, however.
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