US Admits Social Security Going Bankrupt; Warns Public Should Be Given ‘Adequate Time to Prepare’ for the Collapse

For years now, government agencies, politicians, economists and pundits have tried to sound the alarm over the federal government’s out-of-control spending and spiraling national debt.

The predictions of dire financial consequences have actually been widely publicized in the mainstream. In July 2014, for example, The Hill reported on an analysis by the Congressional Budget Office that Congress’ and the White House’s inability to control or reform entitlement spending – considered to be politically radioactive by members of both parties – is collapsing the budget . . .

And in August 2015, Reuters reported that the current trajectory of entitlement spending – boosted in large part by taxpayer-supported health insurance subsidies mandated under Obamacare – is simply unsustainable . . .

[And] the 2015 report of the Social Security and Medicare Board of Trustees plainly states: “Social Security as a whole as well as Medicare cannot sustain projected long-run program costs…”, and that the government should be “giving the public adequate time to prepare.”

That is about as clear as it gets: There won’t be enough money in the future to cover the government’s promises of benefits, period. It doesn’t get more plain. (Read more from “US Admits Social Security Going Bankrupt; Warns Public Should Be Given ‘Adequate Time to Prepare’ for the Collapse” HERE)

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