by Simon Black, Sovereign Man:
Ten years ago, at the peak of the global financial crisis, the Board of Trustees which oversees Social Security in the United States issued a stark warning:
They projected that Social Security’s enormous trust funds would completely run out of money in 2039.
Naturally nobody paid attention. Back in 2009 the economy in shambles, so focusing on a future economic crisis that was more than three decades away was a low priority.
And for the past decade, the US government has continued to ignore its Social Security problem.