Re: the future long term financial apocalypse of the USA

On 5/23/2024 3:28 PM, Lynn McGuire wrote:

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.
>

So Social Security collapsed five years ago?