Entitlements are brought back all thanks to President Trump. Now, there are conservative policies enforced that will control the government hand outs.
Although everything is slowly falling back into place, one more thing represents an issue. During his campaign, Trump promised that he won’t change Social Security, but now it seems like the program keeps on growing.
If reforms won’t be made soon, Social Security will become too expensive to finance…Will the President do anything about this?
From CNS News:
The number of Social Security beneficiaries hit a record 61,859,250 in November, according to data released by the Social Security Administration.
At the same time, according to the Bureau of Labor Statistics, with unemployment at the lowest rate since 2000 (4.1 percent), there were 126,827,000 full-time workers in the United States (including government workers). Yet that equaled only 2.05 full-time workers for each person receiving Social Security benefits.
Even when all 153,918,000 people who had jobs in November are considered (counting both full- and part-time workers), the ratio of workers to Social Security beneficiaries was about 2.49 to 1…
The trustees’ report estimated that the Social Security program faces a $12.5 trillion shortfall over 75 years.
“Through the end of 2091, the combined funds have a present-value unfunded obligation of $12.5 trillion,” said the report.
People consider that Social Security is something they earned and that they didn’t paid into it throughout the years. But, this is not correct because the Security is being payed by the money taken from people’s work decades. Or in other words, the funds you’ll receive when you retire is coming from young people who are currently working.
So it looks like you have to “rob” one person to pay the other. Long-term plans for this haven’t been made by the government. This was the FDR-era policy that was enforced just to get someone elected. This is always the case with liberal programs. They don’t think of the consequences.
Now there is a big problem standing in front of us. The Americans who will soon retire will expect the SS money, but what they don’t know is that the funds were spent years ago…So the main question is, will the now employees get anything in return for their years of work?
We need to think of alternatives. What if we remove the SS and let people put that money in their own bank accounts and then use them when they retire? It is not a bad idea, but the problem is that many people who are retiring today won’t get a thing.
Do you think that our President will find a way to save Social Security?