Re: the future long term financial apocalypse of the USA

On 5/11/2024 10:57 AM, Paul S Person wrote:

On Fri, 10 May 2024 15:16:12 -0500, Lynn McGuire
<lynnmcguire5@gmail.com> wrote:
 

On 5/10/2024 1:46 PM, Scott Lurndal wrote:

Lynn McGuire <lynnmcguire5@gmail.com> writes:

For those who are interested in the future long term financial
apocalypse of the USA

>
More dystopian fiction.   Talk about depressing.

>
Yup, just like reality.
>
USA Social Security sent me a letter the other day and said that if I
wait until I am 67 to start taking SS, they will give me $4,000/month.
That is an amazing number.  I am wondering that they are going to send a
hit man instead, much cheaper.

 Before I retired, I referred to such letters as "the annual lie". But
when I created a spreadsheet to compute what the benefit should be ...
I found that the letters were pretty darn accurate.
 

Supposedly Social Security and Medicare are going to hit $2 trillion /
year each in 2030.  That is an incredible amount of money.

 That's two different things, not functionally linked to each other,
but of course you knew that.
 A trillion here, a trillion there -- pretty soon you're talking about
/real/ money.
 It's all a matter of perspective. And longevity. And inflation. And
Congress (both parties, BTW).

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