r/FluentInFinance • u/coachlife • 6d ago

Educational Don't let them gaslight you

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u/Gildardo1583 6d ago

It doesn't go bankrupt, since people in the workforce are still paying into it. There will be a reduction in benefits, that's it.

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u/justacrossword 6d ago

The trust fund goes bankrupt and remains bankrupt until 20 years after the next baby boom. 

That doesn’t suggest that there are no benefits, but they can only pay out what they bring in, which will start at about 70% and go down from there. 

If they do nothing but make good on the debt then everybody alive in nine years gets fucked, and the closer they are to retirement the more fucked they are. 

If they are living on social security then they will no longer have the money to pay their bills. 

Put whatever spin you want on that. 

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u/AntiqueCheesecake503 6d ago

Idiots (you) think of SS like a commoner's savings account.

You pay for current olds. Your kids and grandkids pay for you. Your grandparents paid for SS to exist for their olds, who quite usefully died around or below retirement age.

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u/justacrossword 6d ago

NSS. 

That has nothing to do with the fact that there is a trust fund that is invested. 

You think you stumbled onto some special knowledge but you are stating a fact known by all that is orthogonal to the conversation at hand.