Your politicians are misleading and deceiving you, and giving you a false sense of security. And they do that in large part because you don’t want to hear the truth.
Look anywhere on Facebook or other social media and in the press and you will see politically motivated opposition to changing any entitlement. Even slowing the future growth in spending is described as a cut. We just want more.
Look at the data below. As bad as it is, it gets worse each day … and nobody seems to care.
Shall we do nothing to control spending? Shall we merely pass this burden to our children and grandchildren? What the hell is wrong with us always asking for more and not wanting to pay for it? Instead we always want someone else to pay and the political left accommodates and promotes that notion with its fair share rhetoric and creating the notion that wealth is bad or that somehow another persons good fortune and hard work have taken something from you.
The fiscal mess you see below is based on current law. At the same time you have the likes of Sen Sanders calling for more of everything; free health care and college and to make Social Security solvent at the expense of a few Americans.
Here is the truth about one item in the budget, a fact no politician talks about:
To illustrate the magnitude of the 75-year actuarial deficit, consider that for the combined OASI and DI Trust Funds to remain fully solvent throughout the 75-year projection period: (1) revenues would have to increase by an amount equivalent to an immediate and permanent payroll tax rate increase of 2.58 percentage points to 14.98 percent, (2) scheduled benefits would have to be reduced by an amount equivalent to an immediate and permanent reduction of about 16 percent applied to all current and future beneficiaries, or about 19 percent if the reductions were applied only to those who become initially eligible for benefits in 2016 or later; or (3) some combination of these approaches would have to be adopted. Source: Trustee Report
The United States recorded a government debt equivalent to 106.10 percent of the country’s Gross Domestic Product in 2016. Government Debt to GDP in the United States averaged 61.14 percent from 1940 until 2016, reaching an all time high of 118.90 percent in 1946 and a record low of 31.70 percent in 1981.