I just saw an article that repeats the same lies we have heard for 81 years.
After decades of running annual surpluses, Social Security has been running in the red since 2010. This year’s losses are expected to total $66 billion. By the end of Clinton’s or Trump’s first term, Social Security’s annual deficits could be as high $182 billion, and could top 2% of GDP by as soon as 2031. The “Trust Fund” currently covering these annual deficits will be completely exhausted by 2035.
Social Security benefits are created out of thin air. Hence there is no funding crisis, no “trust fund,” and no “losses.”
In the past the Social Security Administration mailed out checks like those seen below. The checks, when you cashed them, ordered your bank to change the numbers in your bank account, thereby creating money. (Money is not physical.)
Today they don’t even bother to mail out checks anymore. The Social Security Administration sends instructions to your bank electronically. Voila: money is created out of thin air.
And still the lies continue, always seeking to justify cuts in Social Security benefits. We’ve heard this garbage for over eight decades.
All societies are built on lies that maintain social stratification.
And all societies are insane.
They only differ in degree.