In this episode, we look at Social Security and other social programs such as Medicare and Medicaid. This episode is designed to be a wake-up call for anyone that is depending on Social Security and other social programs. I am ringing the alarm for anyone willing to listen!
Social Security, Medicare and Medicaid and other social programs are by their own financial reports bankrupt. – I am not saying this, the government is telling you that. The projection also is that the entire social security program will be done in 2034. In the words of the report, it states that the OASI Trust Fund, which is the only primary trust fund still solvent, will, in turn, quote “become depleted and unable to pay scheduled benefits in full on a timely basis in 2034.”
We have enormous government debt, unfunded entitlements and social programs and 76 million aging baby boomers retiring over the next 18 years and claiming social security and social program benefits that will put even more stress on these programs.
If you are under 47 years old, this episode is a MUST listen. I discuss the crisis ahead and possible scenarios of how this crisis will be handled by the government.
Recommended Resources:
Status Of The Social Security And Medicare Programs, report by the Social Security Administration
New legislation proposes to “bail in” Social Security
“One Social Security Act”, HR 3150
Resources:
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