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

On 6/21/2025 9:03 AM, 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/
>
“Yesterday afternoon the US government published its annual report stating plainly that America has eight years left before a major financial crisis.”
>
“This is not hyperbole. This is not conjecture. This is not some wild conspiracy theory.”
>
“In fact, eight years until a crisis is probably the BEST CASE SCENARIO unless Congress takes serious action soon.”
>
“That’s because the most critical trust fund in the Social Security system (called OAS, or “Old Age Survivors) will be fully depleted.”
>
“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.”
>
“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.”
>
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.
>
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?

Just about every other country on the planet now means tests their version of Social Security.  I suspect that the USA will do the same.  I will be unhappy but not very damaged as I have saved.  My wife is on Social Security but I am delaying it for the increased payout.
Means testing Medicare will throw a bunch of people like me, middle income, into the valley of no health insurance.  Throwing us onto Obamacare is just another cost to the feddies.
And Medicaid is not funded by any dedicated taxes whatsoever.  It just steals from the General Fund.
Obamacare funds itself by interest on school loans and taxes on employer health insurance.  In fact, I had employer health insurance two years ago, I could not afford the $8,500/month anymore and had to drop it for me and my employees.
These four programs cost the USA federal government around $4 trillion per year and their costs are rising rapidly.  By 2030, these four programs are expected to cost $6 trillion per year.
Lynn