Re: “The US Likely Has 8 Years—At Most—Before Crisis”

Robert Carnegie wrote:

On 19/06/2025 18:59, Lynn McGuire wrote:

“The US Likely Has 8 Years—At Most—Before Crisis”
     https://www.schiffsovereign.com/trends/153000-153000/
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“Yesterday afternoon the US government published its annual report stating plainly that America has eight years left before a major financial crisis.”
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“This is not hyperbole. This is not conjecture. This is not some wild conspiracy theory.”
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“In fact, eight years until a crisis is probably the BEST CASE SCENARIO unless Congress takes serious action soon.”
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“That’s because the most critical trust fund in the Social Security system (called OAS, or “Old Age Survivors) will be fully depleted.”
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“That’s precisely what it says in the 2025 Annual Report of the Board of Trustees of Social Security, signed by the US Secretary of Treasury just yesterday.”
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“But on top of that— by 2033, the total US national debt will be $52 TRILLION according to Congressional Budget Office (CBO) estimates. And the CBO notoriously underestimates deficits… so in all likelihood the national debt will be event greater.”
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This is well documented in the future documentary “The Mandibles: A Family, 2029-2047” by Lionel Shriver.  In fact, the financial apocalypse will probably happen around 2029.
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https://www.amazon.com/Mandibles-Family-2029-2047-Lionel-Shriver/ dp/006232828X

 Is the crisis because the OAS fund cannot
pay elderly SS subscribers due to the government
pilfering it, or is it because the government
pilfering has to stop when the money is all gone?
 

This attitude reflects the widespread view that Social Security is a vault somewhere piled sky-high with 50-dollar bills, and the rest of the government occasionally sneaks in and grabs a few million and it's never seen again.
That's not how it works.
All money collected by Social Security does go into the General Fund. It's replaced by interest-bearing Treasury notes. I trust you're aware that the US government has never defaulted on a Treasury note. Social Security has never lost a penny to "government pilfering." There's no such thing.
Chris