A new report from Social Security has raised its predicted unfunded liabilities over the next 75 years by one trillion dollars.
The day of reckoning looms: A new report from Social Security has raised its predicted unfunded liabilities over the next 75 years by one trillion dollars, for a total of $9.6 trillion.
According to the report, “Through the end of 2087, the combined funds [OASI and DI] have a present-value unfunded obligation of $9.6 trillion.” That is “$1.0 trillion more than the measured level of $8.6 trillion a year ago,” states the report, in reference to the data available for 2011. That $9.6 trillion shortfall equals approximately $83,894 per household based on the Census Bureau’s latest estimate that there are 114,430,000 households in the country.
The report also looks farther into the future and saw the shortfall rise to $23 trillion.
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The day of reckoning looms: A new report from Social Security has raised its predicted unfunded liabilities over the next 75 years by one trillion dollars, for a total of $9.6 trillion.
According to the report, “Through the end of 2087, the combined funds [OASI and DI] have a present-value unfunded obligation of $9.6 trillion.” That is “$1.0 trillion more than the measured level of $8.6 trillion a year ago,” states the report, in reference to the data available for 2011. That $9.6 trillion shortfall equals approximately $83,894 per household based on the Census Bureau’s latest estimate that there are 114,430,000 households in the country.
The report also looks farther into the future and saw the shortfall rise to $23 trillion.
Readers!
Every February I run a fund-raising drive during my birthday month. This year I celebrate my 72nd birthday, and hope and plan to continue writing and posting on Behind the Black for as long as I am able.
I hope my readers will support this effort. As I did in my November fund-raising drive, I am offering autographed copies of my books for large donations. Donate $250 and you can have a choice of the hardback of either Genesis: the Story of Apollo 8 or Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space. Donate $200 and you can get an autographed paperback copy of either.
Please consider supporting my work here at Behind the Black. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
This only proves that the long term survivability of SS has always relied on an ever increasing population size. The original models were wrong.
All the real trouble with SS was caused by the baby boomers not repopulating 2+ children for every adult. They forgot they needed someone to pay for their retirements in the future.
Now they want to make up for it by bringing in south of the boarder illegals to make up for the shortfall. Forgetting all the implications of mass immigration. Yes we have had instances of large waves of immigration but nothing like this. This is approaching 15% of our population in the last 20 years.With no requirements to integrate like the rest of the world has.
All we as a nation can do at this point is hang on and hope to ride out the terrible times that our parents have left us.