“No one will lay a hand on your Social and Security and Medicare!” says President Trump. They are a “rock solid guarantee!” says President Biden.
Both are dangerously wrong. Our retirement programs are going broke.
Here’s why: pic.twitter.com/0vTJaweZTu
— John Stossel (@JohnStossel) July 2, 2024
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We might be circling the drain now. It took from G Washington to R Reagan to accrue 1 trillion in national debt. We just added another trill in the last 100 days.
We can stay in business as long as China buys our debt and we can pay the interest. But when that ends it will be brutal. Interesting to see if the next administration gets through the whole 4 years or if it all blows up on the “winner” of the next election. Maybe the smart people don’t want to win?
Don’t worry. They won’t.
China is not buying America’s debt. The Fed via European intermediaries (in all likelihood) is monetizing every single U.S. dollar issued.
THING IS CHINA IS NOT BUYING OUR DEBT ANYMORE THEY ARE GETTING RID OF THE DEBT BONDS AND PRETTY QUICK TOO. IF THE USA GOES BANKRUPT ALL THOSE DEBT FUNDS BECOME WORTHLESS.
It has ended, China is selling its US debt…
The debt is going exponential now.
Mises called it the debt spiral.
CC got it right with his analogy, we are spiraling down the drain quickly.
The major purchaser of that debt is the Federal Reserve, which is using money they print to buy the bonds. What could possibly go wrong?????
Don’t flush it yet! Call Ty-D-Bol man.
A dollar isn’t what it used to be.
We are at $35T in national debt, just a marginal error, but still.
1,000,000,000,000,000 that’s a trillion for the stupid.
I think that’s a quadrillion.
Maff be hart and it be RAYCISS!!!
another trillion over and above spending paid for from taxes. all borrowed.
It won’t matter when it is all ones and zeros. When it is digital one will not need a truck to carry your money, your phone will have all you need. When there is no electricity then everything is free. What a utopia we are creating. It will be wonderful.
Do I need a tag?
Welcome to 30 years ago MSM news guy. The illegals keep the system propped up , for now.
The illegals are breaking the blue states and cities as the fed goes broke.
The “answer” to a failing Ponzi scheme is to frantically search for more suckers to sign up.
Sorry, but I suspect the illegal invaders are sucking in WAY MORE dollars and goods than they are producing.
i wouldn’t risk a street taco on that bet!
They are not making demands of blue cities because they are gainfully employed. Only people with time on their hands can do that.
Explain to us just how the illegals — who have almost zero job skills — and who work for ca$h that doesn’t get reported on a W2 — are keeping any system propped up …
They are a net drain of about $500 billion a year on US Citizens and Taxpayers … and we haven’t even gotten to the criminal aspects of their lifestyles here in the United States …
Enlighten US … if you can …
No problem, they printed $5 trillion for COVID they can just print another $5 trillion for SS. And a lot of billions for Ukraine too, don’t even need ink and paper anymore, just a couple of electrons. Everything is fixed.
What could possibly go wrong?
Of course there is a simple way to show that simply creating more dollars does not help the economy. If it did, they could just repeal all the laws against counterfeiting and everyone could print their own. Hooray! Economy fixed! Every man a millionaire!
Better yet print everyone two million dollars, then everyone is a millionaire. Economic problems solved. Inequality solved. Then tax everyones $2 million and the budget deficit is solved!
Yes sarc.
Only chews get to print money.
yep.
…If there’s enough money to throw 8-10 MILLION MORE ILLEGAL ALIENS onto WELFARE, along with all the bums already on the dole, there’s enough for Social Security.
And don’t even get me GOING on the financial PISSAWAY that is UKRAINE!!!!
I’m calling bullshit…
Of course they can always “make good” by paying you what they owe you in devalued dollars. That way, they don’t go broke … but you do.
Big Gov: “We will give you every dollar you ever paid in once a dollar is worth less than a penny.”
Sorry, I replied to MacGyver before I had scrolled all the way down. I just reiterated your point, above.
well they wont be going broke bc the gov pushed everyone to take experimental jab…so wont have to worry about paying SS benefits to old people
Exactly! And they almost certainly have plenty more scams for mass kill off.
Mmmmm! More high fructose corn syrup, please! And an order of fluoride with my cricket protein!
Even Bill from the Gates of Hell spoke of that part of the plan some years ago … the problem is, he’s now in that very demographic.
What I resent is stopping the party/bikes/road lifestyle to become middle class… and, to be honest in humble brag, upper middle class. What a freaking fraud this turns out to be! Pork and beans aren’t bad! Steak is great but at what cost? A nice house, nice cars, work five days a week, what? Why? Could have been on the road, scooting down the highway with some bros and some girlies to go with, heading for a party…. But nooo… you gotta get a job, make some money, do ‘the thing’ and be a responsible adult…. Until you’re too old to go out and they pull the rug out from under you…. Fuck ‘em.
Yeah. “Someday, you’ll be able to have some fun….” (Meanwhile, be a good sucker.) Funny thing, “someday” never comes; that brass ring keeps getting pulled back.
Why is it we never hear about welfare, food stamps and Medicaid going broke? There’s plenty of money going around when it comes to staging coups, overthrowing legitimately elected governments, interfering in foreign elections, performing regime changes, bombing, blowing up and invading other countries or assassinating a country’s leader? In other words, making war on anyone and everyone that won’t bow to our demands and edicts. How many trillions did we piss away on both Gulf Wars and Afghanistan trying to turn those countries into liberal democracies?
One of the fun facts that was revealed about welfare, etc., was that their annual COLA is about 150% of the Social Security COLA … and, of course, no one wants to discuss how SS exists due to the mandatory payment of the tax by employers and employees — but welfare comes strictly out of the hide and hard work of Taxpayers.
When the shit hits the fan. It will be soup lines and not EBT cards in which the elderly will also be participants. Section 8 housing will only be accepted at and elderly persons home and it will be at their discretion. The fact is America will look like south of the border only the weather will require heat in the winter.
stuck in smart city apartment hearing rap music all hours. don’t dare go for a walk and cannot drive anywhere.
John Stossel. There’s something odd there that I can’t put my finger on.
Speaking of retirees…did you see that TBP commenter, brian/moos passed away? His wife left a comment on the ‘What TBP Means to Me’ page, but not sure Admin will see it.
level headed brian is gone?!? I just saw a comment from him like last week!
He passed away May 28th.
Gone but not forgotten.
Godspeed, Brian.
He can’t hear you.
At least we know he passed in his right mind. There’s an odd comfort in that knowledge. His last gift to us?
Yes, I remember my very last words to him…and they were good! Thank God!
Thanks for the heads up N. Moos was a wit when it came to posting.
Many blessings to the family. He was one of the good guys.
Haven’t seen him in years. Looks awful.
Subsidized Flood Insurance Makes Storm Damage Worse
SS and Medicare will be fully funded with printed dollars. The SS might not buy anything and Drs and hospitals may refuse to treat you but we will get the checks. Being treated by those COVID quacks may not be a good thing.
THEY ALL SEEM TO EITHER PURPOSELY IGNORE OR REALLY DON’T REALIZE THAT CONGRESS ITSELF IS RESPONSIBLE FOR THE MESS THE OASDI SYSTEM IS IN. BACK IN THE EARLY 60’S WHEN THE SOCIAL SECURITY WAS IT’S OWN AGENCY WITH IT’S TRUST FUND CUT OFF FROM ALL OTHER AGENCIES THE TRUST FUND HAD OVER 4 TRILLION DOLLARS IN IT. THE CONGRESS AS USUAL NEEDED MONEY SO THE DEMOCRATS CAME UP WITH THE PLAN TO TRANSFER THE OPERATION OF THE SSN SYSTEM TO THE TREASURY WHERE THEY COULD GET THEIR GREEDY LITTLE RAT PAWS ON THE TRILLIONS IN THE FUND. PRETTY SOON CONGRESS STARTED TO GRAB MONEY OUT OF THE TRUST FUND WRITING IOU’S TO COVER THEIR THEFT PROMISING TO PAY THE MONEY BACK INTO THE TRUST FUND. IT NEVER HAPPENED. THERE TO THIS DAY IS A GOVERNMENT OFFICE IN NORTHERN VIRGINA THAT HAS FILE CABINETS FILLED WITH CONGRESSIONAL IOU’S TO THE SSN FUND WHICH WILL NEVER BE PAID BACK. YOU WANNA HELP THE OASDI GET BACK TO WHERE IT WAS THEN YOU HAVE TO CUT OFF THE CONGRESSIONAL TENTACLES TO STOP THE THEFT OF THE FUNDS CAUSE THAT’S WHAT IT IS. THEFT. WE PAY INTO THE TRUST FUND IN EVERY PAY CHECK, EVERY PENSION CHECK AND EVEN EVERY SOCIAL SECURITY CHECK. THEY TALK ABOUT RAISING THE AGE, IT’S ALREADY AT AGE 70 BUT THEY WANT TO GO HIGHER OR SOMEHOW FORCE OLDER FOLKS TO DIE QUICKER (HM, COVID19?) OR CUT THE PAYMENTS. THE OASDI IE SOCIAL SECURITY IS NOT AN ENTITLEMENT MY FRIENDS, WE PAY INTO IT EVERY PAYCHECK AND THE SAME GOES FOR MEDICARE PART A, AND WE STILL PAY FOR PART B MEDICARE TO THE TUNE OF 175 DOLLARS A MONTH. THINK ABOUT IT MY FREINDS. CUT OFF CONGRESS FROM RAIDING THE SSN FUNDS AND YOU SAVE THE OLD AGE SENIOR DISABILITY INSURANCE SYSTEM.
They’re ‘going broke’ because OUR money is being flushed down the toilet of the Ukraine, Israel, maid service for illegals, and ‘foreign aid’. American tax money is spent on everything BUT Americans.
GAME OVER “TILT”
Anyone collecting money from government are receiving it thru the debt creation lunacy
wait till it’s school teachers and firefighters and police among other government employees. Hate to be harsh but FUCKEM !
Why you may ask ? 1984 my I was. Third of my way to a 30 year steel workers pension that went bankrupt no debt creation for me , I recall being told I was overpaid by many government paid people . These idiots never connect my Payroll tax paid their salaries so here we are at the end of the line .
I did ok and if you assholes think I’m going to take another hit YOU FIRST
Wut? They have been broke for decades. The congress critters have stolen every penny of it for their pork projects. That’s why we keep borrowing money from people who hate us, so they can pay out their entitlement programs. There hasn’t been any money in that account since Joe helped murder his former wife.
Soldier Pay in the American Revolution
Baloney…The entire US Government is bankrupt, and printing money by the trillions…Social Security is the least bankrupt….
Yeah Social Security has US government IOU’s for the money to pay people that Congress has ‘borrowed” from the SS fund. UH wait, government IOU’s are now worthless, well in reality they always were worthless.
i’m thinking SS was replaced with bonds/securities during clinton’s time. that’s how the debt was paid down substantially. but then there’s this – “Your” Social Security Card is a Bond Issued in “YOUR” Name http://annavonreitz.com/sscardbond.pdf might have something to do with that number on the birth certificate. I am convinced most jurisdictions ise maritime/commercial/admiralty law now.
after the change in SS clinton endorsed the re appeal of the glass staegull act now allowing institutions to speculate with personal savings a collateral.
In other words, they stole all the money long ago and they are going to pack up the scenery and abscond to their yachts, islands and bunkers when they’ve ‘Argentina’d’ us for good.
https://missingmoney.solari.com/fasab-standard-56-and-the-authority-of-the-director-of-national-intelligence-to-waive-sec-financial-reporting/
SS is not a “retirement program”. Anything after that is pure nonsense.
Ponizi scheme? Legal theft program? Government theft?
Just an excuse, to start euthanizing everyone over age 65 maybe?
If they can send billions on wars so Mrs. Zelensky can buy a 4.5 million dollar Bugatti, and villas, planes and yachts, why can’t we put that money into what the poor in America need? Why? Because before every war in the history of America, it is always preceded by a period of economic down spiraling, and no jobs. It is done to get the masses to be so desperate for a job that they, now men and women will join the military just to get paid. Only this time joining will get you more than just paid, it will force transhumanism and vaccines on soldiers and send them to wars so they can kill each other off in a world war to help depopulate the world. They do not like knowing we outnumber them if we just stop drinking the fluoridated water we may become smart enough too rise up against them, who are rapidly turning into more wicked greedy selfish psychopaths who enjoy one thing above all else: the power they prize above everything except Adrenochrome is controlling the ignorant slaves they think we are, making us do as they tell us. Being the ones in power. Take that from them and they would have NOTHING and be miserable forever. It will be dome I guarantee you, they are all about to Fall. The whole truth is going to bring them down.
The truth cannot be hidden. It always comes to light.
All their lies and deceit and canon games are about to be demolished forever.
They will pay a heavy price of all of it.
They will all become shunned outcasts of this world as they should be and we will all cry out “never again”. It will never happen again.
All they have to look forward to is eternity in Hell paying for their sins against us.
Us: we the people who are all created EQUAL, will never have wicked evil vane greedy overlords who sacrifice our children to Moloch for wealth and power, ever again. It will be ended and we will all live in prosperity and happiness and Plenty for all, once the ones who hard greedily more than they could ever need or should ever want go tumbling down and are crushed and cast out of this world and shamed and condemned for all the evil they have done to obtain that wealth and power.
They will have NOTHING and be outcasts, with no mercy or forgiveness for what they have done. The truth will all be revealed and they will suffer and they will have no social security or any other type of security and live in total desolate poverty, not even allowed to be slaves=total banishment from this world is coming for them.
Exactly what Divine Justice is for those Vipers.
I grow weary of John Stossel. Every Federal program is bankrupt not just Medicare and SS. Why? Because the Federal Government is broke. We are running TRILLION dollar deficits. We are printing money and buying it ourselves. It’s a Ponzi scheme and all Ponzi schemes fail eventually. Some would argue it is not a Ponzi scheme but outright fraud/theft. Once the dollar collapses every Federal program will be toast not just Medicare and SS. Prepare accordingly.