The solvency of SS amounts to a pile of worthless IOUs.

https://www.garynorth.com/public/19402.cfm

The Social Security system in 2010 started cashing in its IOUs that it had been given for 70 years to the Treasury. The Congress had spent all of the money. Finally, the money coming in from FICA taxes was less than the money being paid out.

Congress had no money to pay to the Social Security Administration for the cashed-in bonds. So, Congress borrowed the money.

Unless FICA taxes are hiked or payments cut, SSA will continue to cash in its IOUs. It’s broke. Congress must bail it out.

The Ponzi scheme has hit a brick wall…

Be seeing you