Videos

Social Security Is Doomed. Now What?

There’s no way to sugar-coat it. Social Security is going to fail. There are, of course, ways to possibly extend its life for a few years, or even decades, but ultimately, like all Ponzi schemes, it will collapse. By the federal government’s and the Social Security Board of Trustees’ own admissions, the Social Security program will be paying out more than it takes in in just 4 years. At current rates (and assuming the federal government fully pays back the more than $5 trillion it “borrowed” from Social Security’s accounts), the program will be completely out of money in about 17 years. What does this situation mean for current working Americans? Is there any way to solve this problem? Join Antony Davies and James Harrigan as they discuss this and more on this week’s episode of Words and Numbers.

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Social Security
By US Government (Social Security Administration) [Public domain], via Wikimedia Commons

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Quick Hits

Splitting up Amazon

Former Walmart US CEO says Congress should consider splitting up Amazon
www.cnbc.com

National pencil day

NATIONAL PENCIL DAY - March 30
nationaldaycalendar.com

Foolishness of the Week: Cancer warnings on coffee, vacancy tax

Why California's Lawsuit Industry Wants You to Think Coffee Causes Cancer | Walter Olson
fee.org

Cancer Warning Labels Based on California's Proposition 65
www.cancer.org

Judge Rules Coffee Needs Cancer Warning, Giving Starbucks & Dunkin' Donuts Jitters
www.refinery29.com

De Blasio eyes vacancy tax for greedy landlords seeking top-dollar
nypost.com

Topic of the Week: Social Security

Social Security Administration Spending Tops $1 Trillion for First Time
www.cnsnews.com

Summary: Actuarial Status of the Social Security Trust Funds, July 2017
www.ssa.gov

Social Security Trust Fund Cash Flows and Reserves
www.ssa.gov

The Future Financial Status of the Social Security Program
www.ssa.gov

Social Security Online History Pages
www.ssa.gov

How Privatized Social Security Works in Galveston
www.nytimes.com

You Asked: Can Kentucky Teachers Retirement System participants receive Social Security?
www.state-journal.com

Why Aren't All Teachers Covered By Social Security?
www.teacherpensions.org

Widespread teacher absences close Kentucky schools amid anger over pension bill
www.cbsnews.com

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Antony Davies


Antony Davies

Antony Davies is associate professor of economics at Duquesne University and Chief Academic Officer at FreedomTrust.

He is a member of the FEE Faculty Network.

This article was originally published on FEE.org. Read the original article.

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