Re: the future long term financial apocalypse of the USA

On 5/23/2024 11:31 AM, Scott Lurndal wrote:

Paul S Person <psperson@old.netcom.invalid> writes:

On Wed, 22 May 2024 15:55:03 -0500, Lynn McGuire
<lynnmcguire5@gmail.com> wrote:

 

BTW, I suspect that USA Social Security will be means tested in the not=20
too distant future.  The means testing will be whether or not you own a=20
home.

>
/That/ will piss off a lot of people. At last! An issue the 1%-ers and
the home-owning lesser mortals can agree on!

 Lynn pulled that out of his posterior.    There hasn't even been any
rational discussion of means testing outside of SSI (Suplementary
Security Income).
 And when it has been brought up,
    "Proposals to 'means-test' Social Security - by cutting benefits for
    higher-income retirees - wouldn't save significant money unless they
    cut benefits for middle-class retirees as well; such measures would
    also pose high administrative costs."
   ...
    "These facts argue for addressing Social Security's financing shortfall
    primarily through revenue increases -  a position that the majority of
    people in the United States strongly support."
 https://www.cbpp.org/research/social-security/social-security-benefits-are-modest
 Not likely to happen.

Time will tell.  The horizon is short, 2019 at the latest with the USA running a $4 trillion deficit this year.
Lynn