Thursday, October 12, 2023

Social Security cuts in the future?

Sage of Quay News

As millions upon millions of US taxpayer dollars are poured into the pockets of Ukraine and Israel (and other entities of the US imperial war machine), they are floating articles about cuts to social security because of funding issues. Because of funding issues? There is no problem printing millions to prop up war but it's a big problem when it comes to ensuring the welfare of the people back home. All of the idiots who are waving Ukrainian flags and "standing with Israel" need to wake up. Start connecting the dots or your clueless ass is going to be living in the street (you can use your Ukraine and Israeli flag as a blanket).

[Source] Today’s retirees are facing stubborn inflation, staggering healthcare costs and an uncertain Social Security system. And by the next decade, many could witness severe losses to Social Security benefits, according to an analysis by the Committee for a Responsible Federal Budget (CFRB).

When the Social Security fund is expected to become insolvent in 2033, the typical dual-income couple retiring that year would see an annual benefits cut of $17,400 in today’s dollars, the CFRB said in its analysis.

But benefit cuts would vary by income level. A low-income couple would face a $10,600 loss in annual benefits, while a high-income couple would experience a $23,000 cut in benefits.

Read more...