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.

Know more about Russia than your friends:

Get our free ebook on how the Soviet Union became Putin's Russia.

See 2017 Hedge Fund Letters.


Charlie Munger’s Cancer Surgery Formula

charles munger moat valuewalk Charlie Munger competitive advantage great companies great brands GARP value investing value investors Google Alphabet profit margins Berkshire HathawaySometimes, even the best businesses lose their way. Companies like General Electric, which was once a giant of American industry, has flopped in recent years. It has been hamstrung by underperforming businesses and high levels of debt. Q1 2020 hedge fund letters, conferences and more Efforts to turn around struggling businesses generally yield mixed results. Read More

Subscribe to the Words and Numbers podcast via iTunes.

Quick Hits

Splitting up Amazon

Former Walmart US CEO says Congress should consider splitting up Amazon

National pencil day


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

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

Cancer Warning Labels Based on California's Proposition 65

Judge Rules Coffee Needs Cancer Warning, Giving Starbucks & Dunkin' Donuts Jitters

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

Topic of the Week: Social Security

Social Security Administration Spending Tops $1 Trillion for First Time

Summary: Actuarial Status of the Social Security Trust Funds, July 2017

Social Security Trust Fund Cash Flows and Reserves

The Future Financial Status of the Social Security Program

Social Security Online History Pages

How Privatized Social Security Works in Galveston

You Asked: Can Kentucky Teachers Retirement System participants receive Social Security?

Why Aren't All Teachers Covered By Social Security?

Widespread teacher absences close Kentucky schools amid anger over pension bill

Follow James and Antony on Twitter.

Join the Words and Numbers Backstage FB group, where the conversation continues.

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 Read the original article.