Washington politicians have a knack for worrying about trivial stuff while the big issues facing the country and Americans go unattended:
These politicians have run up a Federal government debt of over $3,700,000,000,000 that will eventually bankrupt the country, collapse the economy, and cause our freedoms to disappear.
This debt load comes out to over $100,000 per American.
Over 20 million Americans do not have and/or cannot afford health insurance.
Almost 800,000 Americans are homeless today.
Almost 18 million Americans are facing food crises every day, i.e. they are challenged to feed their families.
Medicare is going bankrupt.
Social Security is going bankrupt.
In the meantime, Washington politicians care only about dividing the country, getting reelected and enriching themselves, their family, and their political allies.
Today we will do a deeper dive into the last crisis listed above, the upcoming bankruptcy of Social Security:
According to the latest analysis by the head actuary of the Social Security administration, the trust fund will be insolvent around 2032, about 7 years from now.
At that time, everyone’s Social Security monthly check will be reduced by 24% since the outflow of Social Security liabilities and payments will exceed the Social Security taxes being collected.
A typical married American couple drawing Social Security checks will see their annual family income from Social Security go down by $18,4000.
This financial crisis will affect 68 million Social Security customers.
For decades it has been general knowledge that the Social Security taxes being collected were not covering the benefits being paid out with the shortfall being funded by the trust fund. Thus, it has been a lack of political courage to fix the program and not ignorance of the problem.
There are a number of steps that could be taken to fix the problem and save that impending and fast approaching 24% reduction, steps we pointed out in our book, “Love My Country, Loathe My Government, Fifty First Steps To Restoring Our Freedom and Destroying the American Political Class.” These steps are not easy to do politically which is one reason why the cowardly Washington political class has refused to act on these types of fixes:
Step ne: Raise the retirement age to 70. Americans are living much longer today than when the Social Security program was put in place. The average age in 1935 when the program started was 61.7 years which meant the majority of Americans did not live longer enough to the official retirement age 65, to collect anything. Today the average age of an American is almost 80 years old, which means that probably just about every American lives long enough to receive Social Security.
However, this higher retirement age is likely to be a financial hardship for many Americans. Thus, for Americans that fall below a certain wealth level, say less than $250,000 in total assets including housing, those folks could start their Social Security experience before the age of 70.
Step Two: Anyone who has total assets in excess of $3 million at retirement age would not be able to draw Social Security checks until their total assets fell below $3 million. Thus, people like Donald Trump, Nancy Pelosi, John Kerry, Jeff Bezos, Bill Gates, etc. would likely never draw a Social Security check since their assets are way above this $ 3 million milestone. The savings from not sending checks to very wealthy Americans would help provide funding for those that actually need it.
Think about it: if you have $3 million in assets and gain a modest 5% annual return on those assets you would be generating $150,000 a year in income, almost three times the current average household income in the country. You should be able to live quite comfortably on $150,000 a year and helping those with much less in assets to have Social Security.
Step Three: Continue and enhance the criminal fraud investigations that DOGE started up to prevent criminals from draining Social Security funds. Establish a Crimestopper type program where people that give information leading to the arrest of Social Security fraudsters would be eligible to get a percentage of any funds recovered.
Is 70 years old the right number for raising the retirement age? Is $3 million the right cutoff for determining if wealthy people get Social Security? I do not know, maybe the right retirement age is 71, maybe the right asset cut off point is only $2 million. Smarter people than me can figure out what the right numbers are to prevent a drastic 24% reduction in Social Security benefits. But something along these lines needs to be done and done fast.
The issue could not be clearer: unless something is done. tens of millions of Americans are less than a decade away from seeing a dramatic drop in their monthly income from Social Security. The less clear picture is whether the Washington political class will ever grow a backbone and help save the program's integrity and payment levels. Unfortunately, a backbone has never been a strong asset of those in Washington.
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If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:
https://www.change.org/p/deseat-congress-reset-freedom
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