Ticking Time Bomb: Social Security & Medicare Are Broke

When America promised to take care of us old people, politicians basically lit the fuse on a stick of dynamite.
----
To get our new weekly video from Stossel TV, sign up here: www.johnstossel.com/#subscribe
----
The retirement benefits worked because there were a lot of young people paying into the system, and most old people died by age 65.
But now we old people keep living longer.
There aren’t enough young people to pay for it all.
An explosion is coming.

[@hersdera]

You have some fantastic content on your channel. At 53 years old, my wife and I achieved a net worth of $1 million back in 2017. Fast forward five years, and it has grown to $2.4 million. Despite our combined annual salary of just over $100,000, we have adopted a frugal lifestyle. We continue to drive older cars, prepare meals at home, and make use of leftovers. Additionally, we have two children currently in college. Fortunately, we had saved for their college expenses, and they are contributing by working part-time. As a result, they will graduate without any student debt.

[@SandraDave.]

Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.

[@bernadofelix]

That right, I started investing sometime in 2018 and by late 2021, I pulled out a profit of over $750,000 with no prior investing knowledge or skill, I was basically just following the guidelines set by my financial advisor, so you don't necessarily need to be a perfect investor or do the hard works, just have a professional who guides & mentors you.

[@bernadofelix]

We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, Margaret Johnson Arndt", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

[@DemsDaBreak]

I hate knowing that every week i must pay into social security when I will never see a dime of it in retirement.

[@user-be7pw3sm7d]

Don't be so negative, you might see a dime or maybe two.

[@dominick253]

Here here! I'd rather be able to invest it myself.😊

[@noobsaibot8844]

You'll probably see a "Ukraine aid" tax on your paycheck here soon. 💀

[@dadofducks]

I feel the same way and I've been paying into it for over 44 years.

[@gramps9838]

" The LORD giveth, The government taketh away"

[@gingerkilkus]

I’m currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?

[@lowcostfresh2266]

I have maintained contact with a financial analyst since the inception of my business. In today's dynamic market, the challenge lies in determining the opportune moment to purchase or sell when investing in trending stocks, a task that may seem straightforward but can prove to be quite challenging. With a portfolio that has increased by over $900k in a relatively short span of one year, I have delegated the responsibility of selecting entry and exit orders to my advisor.

[@TomD226]

@@lowcostfresh2266 Your experience sounds fascinating. Would you be able to recommend a reliable advisor whom you have consulted with?

[@lowcostfresh2266]

@@TomD226 Laurel Dell Sroufe, my financial advisor, is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field.

[@leojack9090]

@@lowcostfresh2266 I am grateful for your assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Laurel can provide me with the guidance needed to rectify the situation before it reaches a critical point.

[@BobTheBald2]

All depends on you age and expense you have. Your best bet is talk to a financial advisor, your bank most likely has one, it's free to talk to them. With that said, the markets are down, but they will be going up sometime in the future, which is why I said it depends on your age. If you're a younger retired with few expenses it might be a great time to get into the market, the rich do not buy stocks when the market is good, they buy up a lot of stocks when the market is down, and profit big when the markets rebound in a couple of years, play the long game.

[@ww321]

The problem isn't what age you retire at, it's what the government does with the money you pay in. They spend it instead of investing it.

[@spydude38]

Its a ponzi scheme. It only remains viable so long as they can get more young people to pay into the system that are retiring and drawing benefits. That ends in 2034 unless they change the system. Most likely they'll do several things at the last moment, such as raising the SS taxes collected from everyone who work's paychecks and raise the retirement age, and decrease the benefits to those who will be newly retired. Its going to get really ugly.

[@bsleds4585]

Spend or steal

[@winston1788]

And they are careful to exempt themselves from SS. Reckon teachers are wishing they could trade down to SS? 👉😆👈

[@ww321]

@@winston1788 to bad we can't use the money they get and will get on retirement to find S/S

[@oldegrunt]

what investments cold they have made (other than precious metals) that wouldn't have been directly tainted by political corruption and power shifting?

[@puppy14]

As a millennial, I’m just assuming I’ll never see the Social Security I’m paying into.

[@neilwatson9706]

As an X'er, I paid into this legal pyramid scheme my whole life only to get 65 percent at age 72? Who takes a 35 percent loss and says thank you? Man, old age is going to suck hard.

[@equaltoreality8028]

Same here, I have already accepted I will never see my own country's equivalent of social security. It will collapse by the time I retire. Though I am not looking to retire.

[@notsure7874]

You're not paying into anything. You're paying for your grandparents who are currently taking SS payments ... this is how the SS system ALWAYS worked. It was NEVER a retirement account for you.

[@juliebarnett9812]

Wait until you've paid 40 years.

[@juliantheapostate8295]

@@notsure7874 Yes, and the point, which you've spectacularly missed, is that no one will be able to pay for our SS

[@shadowscott9910]

The Federal Government has the fiscal responsibility and aptitude of a toddler in a candy store.

[@darthdaddy6983]

A toddler protected from a spanking

[@jfkst1]

That 100% represents the electorate.

[@taroman7100]

Govt was not supposed to be an employer according to our Founders!! wow, did that change. DC has become a huge black hole sucking everything into it.

[@HaIsKuL]

A toddler can only spend as much as it has. The government is far worse.

[@wheel-man5319]

You're being awfully generous with that description. They're like sailors on shore leave... But using someone else's money 😞

[@chrisshaw5895]

I don’t think health care costs get brought up enough. The costs for services are absolutely unjustifiable and unsustainable.

[@neilnewinger3059]

There is unbelievable waste in the healthcare system. In Portugal they get pretty good healthcare for the fraction of the cost in the US.

[@winston1788]

​@@neilnewinger3059 Some shole countries have zero debt. Nevertheless. Flies don't want to live there.

[@neilnewinger3059]

@@winston1788 I would prefer to live in Portugal and many other countries as opposed to the US exactly for the reason, that healthcare in the US is an inhumane scam. It doesn't reflect the real cost and it takes advantage of sick and injured people, who can not defend themselves and charges them usurious amounts of money.

[@winston1788]

@@neilnewinger3059 No worries. You'll always be free to come back when you change your mind. Why is no industry ever monopolized by gov't until it's been proven unnecessary? Notice who's exempt from SS, Medicare etc.

[@ericmichel3857]

Brought up? We should be screaming about it from rooftops! But you are right, it is barely mentioned, forget about simple common sense solutions. This, and education cost, the only "solution" they have is to throw more money at it. I wonder why that is? 😂

[@kdbublitz88]

I'm 43 and for about the last 10-15 years I have been convinced that I cannot rely on SS. I was taught a lesson early on about saving and it has done right by me all my life. 'Saving money is like paying yourself'. SS was NEVER meant to be a retirement program, but sooooo many ppl use it as one, and politicians have quietly gone along with it, bc to go against it is political suicide.. but the bill will always come due, so I will continue to prepare.

[@josorr]

Three questions for you to consider: 1) Are you saving or investing? 2) Are you collecting interest at a rate greater than inflation? 3) What will a dollar you have in savings now be able to buy in 20 years?

[@kdbublitz88]

@@josorr I'm investing. Mostly.

[@josorr]

@@kdbublitz88 Thanks for the reply. My intention was to make you think. I have had investments that dwindled considerably in 2008. It could happen to you. I have since begun to invest my modest wealth in things with value that I control rather than the markets and that bring me independence and self sufficiency. I don't regret it. If things go to pieces, I'll be better off than almost everyone around here. If things continue as they are, I'll still be fine. It might be worth considering for you too.

[@kdbublitz88]

@@josorr no I understand. To be well off it's not enough to just save. I have 2 houses renting out and a bunch of investments in high dividend stocks. My life lesson was just something to get me started, and the money you can keep is money well earned...I think that's the saying.

[@Susieq26754]

I hope you never have a major emergency in your life, because after all they do happen.

[@Condre3000]

What is really annoying is that we knew that they were out of money a looooong time ago. And yet nothing was done, but push the problem down the road

[@freethebirds3578]

Do you think boomers and Gen X didn't know this and haven't been trying to do something? I'm GenX, and I've been hearing about this all my life. I've been voting for politicians who have tried to do something but get blocked by establishment every step of the way. It's not the people who are to blame; it's the politicians who are happy to make campaign promises they can't or won't keep and the establishment (AKA deep state) that will crush anyone who has a chance to succeed.

[@sten260]

true and the longer they push it to future , the worse the problems gets. It's easier to fix it and cut spending soon when the debt is still low but now it's way out of hand so we need some massive decade long recessions etc to fix this again

[@sidwhiting665]

It's not a surprise. We do know approximately when the programs will start to fail... around 2033 - 2034. Maybe +/- two years. So politicians know there are at least two more presidential election cycles to go before the Stuff Hits the Fan, and they'll not address is until they're staring down the barrel of that loaded gun. * And the Rs will blame the Ds, and the Ds will blame the Rs.... and so forth. And eventually we'll end up with some kind of Frankenstein's monster "solution" that will kick the can down the road a few more election cycles.

[@johngenericlastname9781]

Boomers didn't care because they where reaping benefits right now at that time. I don't care because sits boomers facing oblivion. This crap won't be available at all for me when I retire so fuq paying into it

[@mustangracer5124]

As long as they keep making credit cards.....

[@nerdicusdorkum2923]

IDK about you, but social security sounds like a textbook definition of a ponzi scheme.

[@Condre3000]

Back when it was introduced it was going to be ruled unconstitutional on that it forces people to buy something until the president (Bill Clinton i think) said it should be considered a tax. Apparently changing terminology without actually changing anything fixes the problem.

[@livingunderarockunderarock9963]

Bernard madoff says it was a Ponzi scheme I’d take his word on it.

[@theondono]

Because it is, but like lotteries apparently it’s not a scam if it’s the government that does it.

[@Uvoted4this]

College is a Ponzi scheme. Social Security is a pyramid scheme & politicians just SCHEME.

[@steviewonder580]

Even from the outset always was. FDR even said that the risks don't matter because "no damn politician can scrap my program"

[@20jcontra]

My dad died this year at 61. He paid into a system his entire life and my mother will not see any of that money. Social security may have served a purpose in years past, but it has run its course. It needs to be restructured and your money is your money. It stopped being for the people when greedy politicians found a way to steal from the hard working Americans who keep this sinking ship afloat.

[@williamhouseholder1558]

If they were married your mother does qualify to get his social security. Unless she has a pension that out pays his social security then she is entitled to part of his when she retires. Go with your mother to the social security office and talk to them. what happens is if he would qualify for more than her then she gets the larger amount of his social security. I had to work through this with my grandmother and she ended up with my grandfathers pension and a small amount of social security she earned. but if he didnt have a pension she would have gotten his higher social security payment. He worked for the city so he paid into a pension rather than social security. I encourage you to look into it. Hope that helps.

[@garydaniel8898]

You need a lawyer . She should get his SS .

[@leonabarkell1809]

I know so many young people who are " disabled" and living off the government.

[@genericwatcher2439]

We can afford sending billions to Ukraine, illegal immigrants, but NOT take care of US seniors who PAID into the system. BS!!!! This is a choice by the government, don't let anyone else tell you otherwise.

[@johngenericlastname9781]

Yes boomers fuqed everyone and now the repercussions are starting to surface, fuq paying into these corrupted and stolen systems

[@EssenceofPureFlavor]

Who said we can afford that?

[@krto7663]

@@EssenceofPureFlavor The US can afford any war at any time no matter how long it is, since they know they dont need to invest any money on their 334 mil cattle population.

[@taroman7100]

exactly All frikkin criminals Migrants need to be sent back home

[@jonathanwilliams1065]

Something has to be cut and it sure as hell won’t be 10% to the big guy

[@TheMosinCrate]

Keep in mind that they have no money for social security but 125+ billion to send to Ukraine.

[@sidwhiting665]

The sad thing is $125 + billion would barely fund a few months of social security benefits. Yeah, I think it's dumb too, but if we look at the size of the spending vs. the size of the unfunded liabilities, we're talking about a cup of water taken out of a bathtub full of water.

[@marshall4759]

If the politicians had not robbed SS to pay for other things and clamped down on the fraudulent disabilities there would be enough.

[@johngenericlastname9781]

​@@sidwhiting665 so what that cup and many others should never leave the bath tub.

[@taroman7100]

blank checks to that little runt Zelensky

[@LagrangePoint0]

@@taroman7100 and the cut for "the old man" mentioned in the emails.

[@terencetracey]

If a private financial company were to sell a financial product resembling Social Security, they would would be sentenced to prison for decades.

[@kayc7442]

This is somewhat of a misnomer. There is no Social Security or Medicare "account" like a business or personal account where billions of dollars go into. When you pay those taxes, it goes to the general fund and is spent every year. There was never any saving of those taxes for a rainy day since it was implemented

[@SeraphsWitness]

Exactly. It's welfare. They try to spin it as a retirement savings plan, but the money you put in is not the money you get out. It's someone else's money. Someone who hasn't been born yet, most likely.

[@1970bosshemi]

At 30 years old I would forfeit everything I’ve paid in so far in order to stop paying.

[@soarhighyandow9109]

I agree because it would get rid of this program that never should have started in the first place

[@LWRC]

You can't forfeit anything that you won't get anyway!!! Just work harder, longer and pay more into the system!!!

[@bigtime4794]

Were paying for Ukraine social benefits

[@loufancelli1330]

This is what I was clamoring for years ago when I was in my 20s. Let people opt out, or choose self-directed, but of course they never did that because even doing that would raise ire. It is yet another example of how the federal government is just a large corporation with no rails and no incentive to function.

[@davidkachel]

@@loufancelli1330 The Federal Government IS NOT A LARGE CORPORATION. Corporations make money. The federal government is a large Ponzi scheme. Think about it!!

[@LuckysMotorcycles]

So “ Medicare for All “ is a joke .

[@nr12345]

A Ponzi cannot cater for all, by design. Absolute best case in a vacuum would help 50% of people if 100% of people pay into the ponzi but in reality a ponzi might help 10% of people if 100% of people pay into it. All social programs including insurance programs is layers on the foundation of the classic ponzi scheme with some government voodoo magic sprinkled on top that doesn't do anything extra.

[@57ashdot]

Always was

[@daniellassander]

Yes, always has been and always will be.

[@caster863]

It's so expensive. It exceeds the US's entire GDP.

[@IntoTheFray.58]

But not a funny one.

[@mikehaws3187]

Greece 10 years ago ran out of money. They demonstrated in the streets to keep their benefits... Are we any smarter???

[@robertblake9892]

We always hear that Social Security and Medicare are "running out of money". We never hear that Welfare is "running out of money."

[@SandfordSmythe]

Different funding sources, maybe.

[@tennesseecopperhead7874]

Maybe.........just maybe we could fund it if we stopped giving away our money to other countries.

[@patricklee8088]

Nope. While we can argue the validity or the cost-benefits of foreign aid, the money used for it is just a drop in the bucket compared to what's spent or needed to make SS and Medicare solvent. Which is part of the problem. Those two programs, by law, must be paid and the cost continues to grow exponentially.

[@tennesseecopperhead7874]

@@patricklee8088 agree and disagree. Ur point is valid however the amount of money not just foreign aid but all the other money we fork over for other countries could pay for it. They take the ss money U and i pay and spend it in other ways.....not for what its supposed to be for.

[@NezzConstantine]

I also feel it's a bit disingenuous to compare the 31 trillion debt when like 90% of that debt is war related from the last 20 years of BS over sea's.

[@leeoliver2969]

The system is in trouble because it was never intended to cover disability payments.

[@Recken1]

well, that among many other issues. I too believe SS would be self sustaining if the gov't kept it's greedy hands off and used it for what it was intended.

[@maryannenizio5074]

The joke is when SS blows up ...... those on disability WILL NOT BE affected .....they get their $ from the general debt

[@jgesselberty]

And, trust me. Everyone with a hang nail is on disability. I see people daily that get disability payments, mowing their lawns, painting their homes, working on their cars, playing ball, you name it.

[@5points7019]

@@jgesselberty yep yep... we saw this back in the 90s with a single female neighbor of ours. she would spend her summers tanning herself, cutting her grass and taking care of her flower garden, walking around just fine... and when the scheduled time came for her to go check in, she would suddenly be on crutches with her ankle wrapped up... this went on for 10 years while we lived there.

[@maryannenizio5074]

@@jgesselberty totally agree

[@harveyh3696]

I'm turning 65 next month. Am concerned.

[@jsheav]

Ive talked to several boomers about this, and they are very emotionally invested into SS. Even mentioning raising it to 70 evokes alot of anger. Im a millennial, and am planning on using my own personal funds for retirement because i dont trust the government to take care of me when im older

[@YT-User1013]

Yea, I’m a boomer and fuck working until 70. Stop voting democrat who tax the shot out of us and steal tax money and give it away to other countries by the billions.

[@whyisblue923taken]

You can't take their gibs, even if it would save your life.

[@Alan0000able]

Problem aint govrment. Or at least in normal countries. Problem is that most of the problems mentioned are coming from policies that REPUBLICANS support. Why do you think people have less kids? Because housing is so extremely expensive compared to what it used to be, because giants like Black Rock are buying up entire districts and renting them for insane prices. Who is against the government stepping in? Healthcare costs are insanely high because of a private for-profit system instead of universal healthcare? Jeez i wonder which party says that universal healthcare is communism

[@timmyjohns222]

It was suppose to be a supplement to help in retirement not fund your whole retirement!

[@richardlew3667]

We could start by addressing the issue of politicians becoming multi millionaires over one or more terms.

[@richardlew3667]

@TVT * cough cough Biden. *cough cough AOC. *cough cough Clintons *cough cough Chicago's recent mayors

[@Chris-xt8io]

@@richardlew3667 none of them are billionaires

[@Navy35]

@TVT Obama came close in two terms. Now you never hear him talking about redistribution of wealth

[@cstuartdc]

Politicians aren't paid enough. They're paid what? 180K/year? If you think that's a lot of money, that's laughable. Pay them well enough they can't be bribed.

[@neverknow69]

@@AdirondackHomestead Okay screw Billion, maybe Million. Either way you get the point...

[@ReaIHuman]

Politicians don't care what happens to you, they're to busy screwing you over to think about anything else.

[@damnright4]

WW3 has already started..Its the Politicians versus the People...The Politicians know this , but most People have no clue.

[@raidchaser443]

Someone TRIED to protect their BIG DADDY government...comment is GONE. Mine ONLY STATES that I got here too late...AGAIN!!

[@EarleHartshorn]

I was FORCED at gunpoint to pay into this system, and I damn well intend to get my money back out of it. The first reform that needs to happen is allowing choice of what retirement fund they wish to buy in to. 2nd choice is which healthcare plan they wish to use. I was forced to pay into Medicare, yet I will never be allowed to get a penny of that money for my own health care.

[@CellarDoorx06]

This truly scares me. I'm rather young compared to others on Disability, and this is always something I worry about...

[@k-ozdragon]

Disability for...? Please don't say "anxiety."

[@Fuhqdapolice]

I'm on disability for anxiety, living the high life retired at 36. Just bought a new car. It wasn't cheap, you outta know, you bought it

[@k-ozdragon]

@@Fuhqdapolice Wouldn't surprise me one bit.

[@sneakyquick]

The fuse was lit the day we went off the gold standard. Unlimited spending was produced when that happened.

[@damnright4]

Quit right! Thank you President Nixon for fucking us over.

[@starventure]

We went off the gold standard mainly because of the Vietnam war.

[@tallswede80]

@@starventure we went off the gold standard because the politicians wanted to spend more money.

[@starventure]

@@tallswede80 We went off because we HAD to spend more money because of the Vietnam war. If there were no war, the gold standard may have survived intact.

[@tallswede80]

@@starventure Claiming that we "HAD" to do something is not an argument. If the government was constrained by the gold standard, but still wanted to spend money on the war, then they would have had to cut spending somewhere else, or increase taxes. They got rid of the gold standard so that they could spend money without doing something politically unpopular.

[@markc2152]

Old people keep living longer Don’t worry John , Bill has a jab for that

[@catpisssniffer69]

Bill has been a busy beaver

[@patrickbush9526]

@@catpisssniffer69 🐈💨

[@anyways4438]

I'm out of touch, who's Bill?

[@davestaco]

@@anyways4438 gates

[@pollypurree1834]

Old people aren't living longer. It's the younger people who aren't dying as quick due to the discovery of antibiotics in 1947.

[@halotubb1110]

We should have the option to opt in or out of social security, i can invest those tax dollars better than the government can

[@stevebeard7667]

People who have paid into this all their lives will never see a dime of it.

[@jackyhallmark3094]

Old people living longer, young people working less. What could go wrong ?

[@TurnerTurnip]

Don't forget to factor in mass third world immigration.

[@NeverSuspects]

we could learn to treat more disease with new medicine and technology and it could cost a lot just to implement or produce and train staff to perform giving young and old more reasons to go in for a treatment that didn't previously exist and we could blame it on an abstract leaving the public to think they are getting ripped off by hospitals rather then government and financial groups and maybe even someday accidentally figure out how to make people live forever outside of fatal injury and we could figure out how to supply really cheap energy making all the robotics were working on and the ai able to do pretty much ALL work and quickly no one pays into anything and we are forced into some totalitarian government system in order to issue resources because we can't all exist in the same point of space time and equity is impossible. a lot can go wrong. we could progress into our global systems collapse and then war before isolating into tribes in endless automated conflict.

[@pollypurree1834]

Old people aren't living longer. In fact, old people lived longer, for example, in the 17th century than they do now because of their superior diet. Actually, it's YOUNG people living longer that caused an eventual increase in the senior population. That's due to the discovery of antibiotics in 1947. Prior to antibiotics, only 50 percent of children made it past 18. My mother's parents had 10 kids. Only 5 made it to adulthood. It was the same for my father's parents. They had 10 kids also. 5 made it to adulthood. Back then in the 1920s, kids were normally buried in the home's backyard or basement which is why very few children were in cemetaries.

[@sten260]

it will go back to mean on it's own and then old people start dying sooner and young people start working more

[@GuwJuice_PttP]

@@pollypurree1834 the 1920s elderly people had an average life expectancy of 54 years old compared to today of 78 years… straight 🧢 Not to mention that in the 17th century the life expectancy of the elderly was even lower.. 43 years. Idk where you got your info from but that’s really rich seeing you try to manipulate info like that

[@johns7734]

If I, as a private individual, tried to start a service like social security, I would be spending my retirement in Club Fed in Bernie Madoff's old cell. And for good reason. But this is the government, so it's OK.

[@Cacowninja]

But it would morally fine and economically functional if you did privatized social security. Yeah the assholes in suits don't want that but I'm all for privatization of it or anything else.

[@ModernMaleSolutions]

Social Security and Medicare are and have always been Ponzi schemes.

[@scottp2462]

Careful speaking the truth. You won’t get Bernie’s old cell you’ll get Epstein’s 😂

[@Stubbies2003]

@@Cacowninja You are missing the point. Just like with madoff social security is a huge ponzi scheme. There is no money sitting around collecting interest. Just a bunch of IOUs from the federal government who took it all. When 2034 hits there won't even be IOUs left. Unless they fix it the benefits will automatically drop by 25% to match incoming monies. Probably a larger deduction by the time 2034 hits. Hell I remember the SSA warning about this decades ago with an estimated 2040 date for the automatic deduction in benefits. The problem is that fixing anything financial wise the longer you wait to deal with it /the closer to the deadline you are the more painful the fix becomes. No one has the cajones to touch this so I have no doubt that this will go down to the wire without a fix.

[@cato451]

I solved the problem 25 years ago, but my Congress representative and both senators chose to ignore me so I don’t really care anymore

[@Malohta]

My parents always told me social security wasn't the same as a retirement. It's just extra padding.

[@Boatfisherz1]

My college finance professor said I'd never see social security. This was 15 years ago and I'm not planning on any of that when I retire.

[@bartdoo5757]

If you work you see Social Security every paycheck.......going out.

[@Navy35]

Is it just me or do you ever hear politiciansconcerned that welfare, EBT or other government programs are not going to be around for future generations? We seem to always have money in the coffers for illegal immigrants or endless wars

[@michaelfewster4604]

I was told this by Econ professor in the 80’s.

[@divinecomedian2]

An actual based college professor? Nice

[@bartdoo5757]

@@michaelfewster4604 Most college professors keep pushing these programs and ideologies.

[@327DD]

We can all thank the government for taking it and using it however they wanted to.

[@Nostradevus1]

And declining birthrates due to third wave feminism.

[@lorenzobeckmann3736]

any time someone says, "private investment accounts" --- ask yourself --- Where's the money gonna come from? Every month of a surplus of SS tax receipts all surplus goes to General Treasury for bombs, gifts to foreign potentates, studies of observable natural/unnatural phenomena, etc. We remember the tax events of 1982 & 1985; they promised solvency 37 yr (said at the time). That promise by politicians

[@roninmarketing4048]

End the problem by stating anyone who is born after 2030 will have to be 75 to retire.

[@thegreenbean6777]

This issue isn’t just in the US, other places like Denmark which follows the Nordic model has a system that is unsustainable for the next 25 years. They have a 55% income tax rate, an aging population who can’t pay for it and migrants who leech off of the welfare. Also the doctors won’t see you unless you’re pretty much dying. Ambulance’s won’t always show up. Government healthcare isn’t sunshine and rainbows.

[@jt1559]

America pays twice as.much per person for healthcare to not get guaranteed healthcare. It's all crap unfortunately.

[@GusMahn]

My father was a doctor who died in 2003. He understood (lack of) service is the price you pay for socialized medicine. Easily confirmed if you join an online hernia group.

[@bosmerfromcanada3878]

Migrants leeching off welfare? Isn't that what migrants are ALWAYS supposed to do by their very nature? Just like a tiger being orange, white and black striped.

[@nopeno6514]

Glad I don't live there😮

[@sten260]

nordic model is horrible, it's literally socialism and we all know how well socialism works. So of course it's not sustainable and it will blow up eventually. But i'm worried what will happen then , are we going even more socialist route where the government essentially owns everything and everybody becomes a slave or do people still trust in freedom and capitalism where we can go back to each person paying their own bills.

[@FellTheSky]

How do you go broke? First gradually, then... All of the sudden.

[@slydog7131]

We're all hoping to die before that happens.

[@OneEyedOneHornedGian]

I do feel like more people I'm talking to are starting to understand this concept.

[@mchume65]

Here in San Diego, I have to wait 6 weeks to get a MRI for my knee. My knee will be healed on its own or permanently damaged because I will still need to wait that much more time or longer to see a specialist.

[@marksullivan6759]

My biggest issue is that social security should have been treated Like a 401K and Medicare like an HSA. If it were, than we would have saved 12.4% of our lifetime earnings for retirement and 2.9% into an HSA. That would be sustainable when combined with a prudent personal savings plan. This is nothing short of pension fraud!

[@notsure7874]

Keep government out of it entirely so people can do that for themselves with their money.

[@Nordic_Sky]

You are exactly correct. Had I been able to invest my social security contributions on my own, I would be a very wealthy person now. It's theft, pure & simple.

[@michaelrusnock]

It actually was kept separate but president Johnson incorporated the savings to that point so he could fund the "Great Society" programs without raising taxes. Couldn't do it like they do now because we were still on the gold standard then.

[@rcrawford42]

@@michaelrusnock And look how the "Great Society" has paid off! More people in poverty, more fatherless children, worse schools, and higher violence!

[@notsure7874]

@@michaelrusnock It was kept in a separate account, but it was a tax / entitlement program from its inception. They just moved it to the general fund. Made it easier to hide how much they were raping it by "borrowing" from it to pay for their pet projects.

[@jonathannell3377]

This is why as a millennial I keep telling my parents who are boomers that "we are not going to be able to retire there will be no money left the only thing we can do is hope we have enough money saved up because there is no money for us at the end of the day."

[@LWRC]

Very true. And how many of you millennials voted for potato head who destroyed the economy on day one after taking office???!!! How does it feel now??!!!

[@spydude38]

Thats the wrong approach to take, to "hope you have enough money saved up". Use the knowledge and time you have to plan your own retirement. Social Security was never supposed to fund your entire retirement. You can do it if you take decisive actions to map a plan and execute it. Otherwise you will have nothing at the end and it won't be the government's fault, it will be yours.

[@jonathannell3377]

@@spydude38 when did i ever say that it was the governments job i literally stated i hope i have saved enough

[@jonathannell3377]

What does your comment have anything to do with the video based on what im reading you got upset with facts and decided to preach what you thought was best. With all due respect you know how to live your life let me live mine and quit trying to assume you know me.

[@astorybook1738]

you're better off investing your money

[@ksapp8213]

Don't worry about Medicare or social security the bigger problem is the entire united states government is bankrupt

[@treybarnes5549]

I have been hearing this all my life

[@Gandoff2000]

And the politicians keep taking the money that is put into the social security fund and spending it. Then they replace it with government IOUs. (Treasury bonds). If they had bought gold or solid stocks, this money could have grown exponentionally. So if they cannot met the obligation they promised, they should simply return every penny that the citizens paid in over the years. Most individuals would have invested much better than what the government did.

[@drs7804]

We then must take every dime of these ex-politicians after they retire from Washington and Repay those IOUs !

[@drumyogi9281]

Calpers is going broke as well. Their meeting on their KZbin channel this past week was 4 hours long but only the first 7 minutes are viewable lol. Crazy.

[@zCatLady]

Unfortunately, even if they were willing to return the money, and I'd gladly take mine back to reinvest, the money's not there.

[@222ableVelo]

Reminds me of the "IOU's" in the movie Dumb and Dumber. "Ooo, 1 trillion dollars, that's a big one. Might want to keep that one." 😂

[@funkemunky]

thats not what happens, and that is an incorrect analysis of how modern fiat currency works. The US sets an inflation standard at the same interest rate they issue treasury bonds, basically making the debt a zero sum payment. US Banks, and other global banks, invest in US bonds as their primary store of value. Because effectively, it is better than gold since it is guaranteed by an incredibly stable regime to never lose value. politicians do not "take the money". In fact if they did, that would be embezzlement and would result in a hefty prison sentence. Essentially, Social Security is "flawed" but is saved by the fact that fiat currency's value is made by political influence over global economies. It has generated over $3 trillion dollars in interest, and the US government uses that interest as collateral when issuing bonds. Social Security is in the green, has always been in the green, and will continue to be in the green as long as the US is a major global power. If you ever wondered why the US invests so heavily in being a global power, it is because it is precisely the reason why our economy and government work. China and Europe benefit for the same reason, and it part of the reason why poor countries struggle heavily to gain value in a global market.

[@Langharig_Tuig]

Living in a country with probably the most expanded healthcare and social securities system I can confirm that living in the post "explosion" world is a hell... Our "free" healthcare means that we pay ridiculously high taxes, literally the second highest in the world, and all that money gets lost into scam like constructions; people on paper providing valuable services but in reality they barely provide any service at all and are just subsidy factories. Not a single viable long term strategy was developed in the last 80 years and now the only straw they grasp at is "muh immigration", importing criminals and outright worthless people who do not fill the employment gap, only widen it.

[@sten260]

because whatever problem government is in charge of "fixing" will always get worse AND more expensive. That's just how government operates, there is no responsibility at all, it's all tax payer money and everybody just tries to steal as much as they can.

[@energeticstunts993]

yet America ranks 13th in quality of healthcare, all countries above it have some form of free healthcare. If medicare fund was actually used properly, maybe this wouldn't be the case. regardless, ignoring the 9% of Americans who are in extreme poverty, compare that to 0.90% of swedes that are in poverty and you realise that free market doesn't actually solve anything at all. What we have in America is not "crony" capitalism, it's simply IS capitalism, more specifically: late stage capitalism that would happen regardless at some point because by putting profit at the forefront of everything leads to some sort of exploitation, either abroad or locally. America IS capitalist and will fail due to capitalism.

[@johngenericlastname9781]

​@@energeticstunts993 america is failing due to Bolshevikism, jooos are draining it of resources and Americans sit by and chest thump about much freedoms muh constitution.

[@rithwikj]

Let me guess, you're in Canada? 😄

[@wheel-man5319]

​@@energeticstunts993 government programs always misuse the money and power that is given to them.

[@braindead2813]

The average person is very stupid and will not have their mind changed on this. 😢

[@Joshua-uw7wm]

The real problem is that the money never actually went into the account but instead into certain individuals pockets

[@shrimuyopa8117]

Wouldn't of mattered. You could take the hundreds of billions of dollars that were borrowed from those funds and it wouldn't even cover 0.1% of the debt that will be incurred.

[@Cooter4]

ACTUALLY the SS and medicare is FULL of IOU's from the government. The money all goes in the general account.

[@theevermind]

Not into someone's pockets per se. It went to buy bonds which put it in the general fund. Then congress spent every penny of it on their pork & graft. So it was used to fund politicians' spending which of course benefits them, but it's not quite the same as saying it went into their pockets.

[@Getitstraightyo]

It was never intended to go "into an account" it was always a tax paid directly to old people

[@Jeramieshilter-kc1el]

No the real problem is Americans Sitting and complaining instead of fighting back Seeing our whole government is corrupt

[@jeromehebert3184]

put the president and congress under ss and medicare and see how fast they fix it imo

[@Recken1]

That only works if they aren't robbing the country blind. As it is, they have plenty of money to retire on and don't need those poor people programs.

[@juliecramer7768]

Exactly

[@Notsram77]

Why would anyone want the government to 'take care of them." ? Have these people not seen the government?

[@TheHouseOfWaffles]

Instead of forcing us into this *pyramid scheme,* we should be allowed to put our money into general investments, but nooo, *nobody* is capable of personal financial responsibility--according to the politicians--so the few of us who are fiscally responsible are expected to take care of those who aren't.

[@docbrown9664]

They have been decreasing benefits for quite a while now by printing money and underreporting the CPI. That's the only reason Social Security isn't already bankrupt.

[@natehill8069]

Plus they raised the retirement age from 65 to 67 back in 1983, altho the effect was delayed by 11 years.

[@andrewgeissinger5242]

Good point.

[@DickWeinerUSA]

The next story should reveal the healthcare package and retirement benefits for Representatives and Senators who approvingly voted for their own benefits. If every citizen received the same benefits as current and former elected officials, there wouldn't be a problem, or would there?

[@pizza4me298]

Social Security can't go broke, at worst it will pay a reduced amount. Even this could be easily solved with a few minor tweaks. I've been hearing doom and gloom about it my entire working career.

[@deezespieces]

Stossel with another W. One of the best reporters of my lifetime.

[@dsgio7254]

He is lying. Read the time article : 50 trilliion dollars have been taken unfairly by the 1 percent - from the 90 percent ... Just look it up yourself .

[@fixedG]

This is an important issue that's ignored by most of the mainstream who just doesn't want to talk about it. Thanks for sharing, John!

[@duaneridings6591]

As a boomer I will never get out of social security for what I put into it

[@millsrickman7703]

Me too. And after us they'll get less.

[@screwthecrewofpoliticians8921]

None of us will after Obama taking from soso for his obamacare.

[@MBarberfan4life]

Because the Fed will just print the dollars, so you won't be able to buy anything with your SS money: Congress sure as heck is never going to cut it, so they will let the Fed dishonestly cut it through inflation.

[@BuddyLee23]

I wish one could opt out. No tax but no future benefits. Let all the socialists enjoy it and leave me in peace.

[@TurnerTurnip]

@@BuddyLee23 Get rid of property tax, too.

[@notcrazy6288]

I'm 46 years old. Even at my age, if I could exempt myself from social security taxes with the understanding that I'd never get social security, I'd take that deal. I'll never see it anyway.

[@joeswanson733]

i keep hearing all they have to do is tweak it and it will be fine. like raise the cap limit. or reduce paouts. or something along those lines.

[@AlwaysHopeful87]

I have a friend who retired early to avoid a possible retirement age change.

[@nickelnoserestos2598]

Those funds should have been off limits.. many of us are at retirement age and have paid into that all our lives.

[@craigwillms61]

Absolutely- 100%

[@Jimraynor45]

Many seniors are getting more out of social security then they ever put in. The first recipient of social security only paid like $300 before living long enough to receive over $20,000. Its pays to be first in a ponzi scheme.

[@BVN-TEXAS]

Even if the funds had been off limits it’s still not sustainable. As soon as the average person has a major hospital stay like for a stroke or heart attack, they will have burned all the money they paid in. The the medical benefits that’s eating the system alive.

[@craigwillms61]

@@AdirondackHomestead I understand perfectly. I don't care, I'm still owed what I'm owed. I played by their rules and I expect them to honor their obligations. What do you expect a retiree to do at this point?? How dare you blame us who paid into this thing for 45 years - buzz off.

[@USMCasper]

Wrote a paper on just this issue 19 years ago. Our Politicians have screwed us.

[@johngenericlastname9781]

Nothing new under the sun

[@damnright4]

WW3 has already started..Its the Politicians versus the People...The Politicians know this , but most People have no clue.

[@KcufYouTube]

26k for each anchor baby. Imagine how much that cost tax payers each year. Taht doesn't even account for citizens on medical with kids.

[@TheGravitywerks]

I signed up for medicare at 65.......now Im paying an additional 400 a month for those that won't pay for their own. SHELL GAME!

[@Macsrus5]

I can name 10 people NOW on Social Security Disability that are not disabled. Them drawing this cuts into the funds available for the Seniors. BUT, if they did that🤔 it would put some doctors out of business 🤔

[@TheBandit7613]

I know young people collecting "disability" instead of working. They are NOT disabled. Getting approved is like winning the lottery for them. Free money for a lifetime.

[@glorybound7599]

I’m 65 years old. I’ve been working since I was 15 years old. I don’t expect to receive a retirement or social security check because I don’t trust the government that says my money is a benefit. I will work until I can no longer work and pray God will show me the way.

[@Satjr35031]

Let me give you some advice Work another year and pack it in and go smell the flowers

[@bluesman97]

So give me back my money. What a bunch of crooks.

[@hint0122]

I should have the option to not pay social security, and invest it on my own, or spend it.

[@Samlol23_drrich]

I own a small business. I’ve owned it for 25 years. I learned that once you give an employee something it’s almost IMPOSSIBLE to take it away. The only way to remedy this situation is to alter it starting with those who have not yet contributed a penny. Those in their late teens and twenties coming into the work force. That is the only way that there won’t be resentment. Period.

[@jerrymiller9039]

They will resent having to pay to cover the people already in it when they will not get it themselves.

[@oldpicker49]

iwas working for a old guy i ask him why he didnt give me a christmas bonus he said if he did i would want one next year

[@Samlol23_drrich]

@@jerrymiller9039 oh I agree. I didn’t mean that. Guess I wasn’t clear. Use their pay in to fund their retirement system not the current one. And those on the current system - well they will just need a different source of funding until the last who contributed to it collect. No answers just s theoretical.

[@Samlol23_drrich]

@@oldpicker49 very good!

[@alkaliwreck2474]

@@Samlol23_drrich The problem is, social security is sustained by the young. Jumping tracks means quicker collapse. A "different source" is still just tax; there's no other place for the government to get money. The only way to fix it is to make people mad by either increasing the retirement age or decreasing the pay out. Yes, young people should absolutely plan for it's failure and start private retirement accounts as soon as possible (compound interest ftw!) because more government is never the answer. We'll still be salty about still paying in until it does fail. Particularly because the over-the-hill Congress will vote to increase tax long before it inevitably does collapse.

[@DrummerJacob]

My US History teacher told us in 2002 on the last day of school for seniors that social security wont be available by the time were done paying for it and that we should be aware of it and mark his words. Im sad to say that very soon ill send him that email reminding him he was right.

[@shuttlecommander]

At age 25 I started a simple IRA, im currently 31 and have a decent amount of savings in it.

[@shumann1605]

Prices will always go up when the government pays for one group and not another. The insurance one pays for the ones that don't will always go up because they are trying to make up for the ones that don't. The only way to fix this is to give control back to the people, stop taxing the people for SSI and Medicare and deregulate the health industry. But of course we all know that will never happen. thanks John.

[@shalashaska9946]

I honestly think in like 30 years after all the older politicians die off, it will be less taboo to reform it. Almost nobody under 30 truly believes they'll get social security when they retire. Which is a good thing for them to believe.

[@nunyabeezwacks1408]

Except politicians want the seniors' vote, this is why they're so reluctant to reform the social security system.

[@alexanderplatz517]

Under 30? At this rate more like under 45!

[@jercasgav]

@@nunyabeezwacks1408 Seniors might vote for things, but why would the younger workers allow it if they cannot even care for their own kiddos? Good luck old people that feel entitled to over spend beyond what you paid in, then chose to not have enough kids to work to support your costs!

[@terrorshard2916]

I just turned 40 this year and I am planning and saving as if there is no SS or Medicare. You should all do the same.

[@zCatLady]

Good for you! ( And I'm not being sarcastic!) 😊

[@christopherpardell4418]

Just TAX the rich like we USED TO in the 1960’s. Bring Unions back and wages will rise.

[@crackpipejoe3508]

Biden/Fetterman 2024!!!!!🎉🥳

[@IMDunn-oy9cd]

The politicians aren't going to do a thing about this until it's too late.

[@zCatLady]

They probably won't do anything, even then 😂😂😂

[@mdjambazky4968]

I adore this channel. God be with you and kind regards from Bulgaria.

[@Kenny-yu6gc]

I sympathize the most with the people over the age of 60yrs old who I occasionally see working physically demanding jobs like food service, amazon warehouses, etc. seeing them visibly struggling to keep up with their age in order to make ends meet with a low-paying job. Once worked with a man who was probably in his late 60s and weighed over 300lbs doing food service. He said he had to pay for his wife's medication and he was also working a 2nd part-time job as well. Don't know his life's story, but he's mentioned that he once own and ran BBQ restaurants in the past. A very sad thing to see that I don't want to experience or my parents to experience.

[@rkba4923]

I would strongly recommend we start stringing them up now instead of continuing to wait for things to get worse!!!

[@Trainmedic]

I think a close look would show the amount spent on things other than old people would be of interest. How much is spent on dependents of these old folks and how much does the government "borrow" and never pay back?

[@robertcompton5232]

It pains me when people who consider themselves conservatives act like social security and medicare are good things. America has been conditioned to accept those ridiculous programs when they should be mocked.

[@smelltheglove2038]

Me too. Entitlement spending is out of control and most of it is for fraudulent programs that enrich family members of the ruling class.

[@genghiskhan5701]

Going against social security and medicare would be political suicide

[@amibrainwashed]

Well unfortunately many of them are older boomers and policies like SS and Medicare create a dependency class. Their livelihood depends on them not voting against it.

[@smelltheglove2038]

@@TugIronChief yeah, that’s the thing, we won’t. It’s a Ponzi scheme and it’s collapsing

[@robertcompton5232]

@@TugIronChief not likely. My passive retirement income will be in the hundreds of thousands of dollars per year, and I already have millions in assets. I probably won't qualify for much if any social security.

[@marioamayaflamenco]

Cut benefits to Israel and Ukraine!

[@kenbe62]

Nope! The vast number of those who are retiring now PAID into it. The money should be there. Politicians took money OUT of Social Security for their own uses.

[@jonathanwilliams1065]

It’s not just old people living longer, young people aren’t having kids and society even treats kids like a bad thing

[@Delimon007]

Young people not having kids is a good thing, the world is already overpopulated.

[@jonathanwilliams1065]

@@Delimon007 they keep saying that and it keeps proving to be false Only certain places are overpopulated because that’s where jobs are, but sometimes toy see both over and underpopulation within the same country

[@muffemod]

@@jonathanwilliams1065 I couldn't imagine imparting life on someone given how fucked up the current state of the world is in.

[@jonathanwilliams1065]

@@muffemod it’s because of that mentality that the world is so fucked up

[@patriciasmith7074]

What about the billions they have given to other countries? They took money from my husband check from when he first started earning money as a teenager, he died before he ever got a penny of social security or Medicare paid for him. I avoid the doctors so I don’t spend anything and I pay for Medicare and I have bought the most expensive tie in policy. One problem is the poor will never pull the plug on granny because they are collecting granny’s money,so they want her kept alive at all costs so they can collect her social security money because their name is on her account too.

[@tropics8407]

The best statement made here is ‘their is little incentive to reduce or control cost’ it can just keep going up 🤕

[@toddperry9860]

Truth is like a breath of fresh air, too bad most politicians spew out smog!

[@jrnewland3422]

Thank you John for being brave enough to tell us the truth.

[@JeffTY77450]

I retired two years ago. I’ve earned two separate pensions, one military and one civilian, and I can afford a reduction in my SS of, say, 25%. But then there are people for whom a 25% reduction would be very bad. There’s no way to fix this without someone experiencing pain. 🤷🏻‍♂️

[@TheHamburgler123]

They're going to take the path of least resistance and keep upping the age, hoping people die before they get a chance to start collecting.

[@Alan0000able]

There is. Stop giving the richest 1% tax cuts and close different loopholes.

[@JeffTY77450]

@@Alan0000able, please tell me you’re aware that the rich pay the majority of taxes. The highest earning 1% pay ~40% of federal income tax, the highest earning 10% pays ~70%. The lowest earning ~47%, almost half of wage-earners, pay *no* federal income tax. It’s this group, probably the bottom ~20%, that applies for TANF, SNAP, Section-8 housing, Medicaid, “free phones,” etc. They’re receiving benefits that most of them will never pay for. Those benefits are being paid for by the rich, by borrowed money, and by printed money. There are, of course, other taxes, each of which warrants a separate discussion. A lot of the other taxes we pay are designed to be roughly proportional to the benefit received. Use more (or less) gasoline, pay more (or less) state & federal gasoline-tax. Pay more (or less) payroll taxes over the course of your working-life, receive a larger (or smaller) Social Security check when you retire. Don’t want to pay state & federal cigarette-tax? Then don’t smoke. “Win-Win.” And so on. Also, please tell me you’re aware that a tax-cut does not involve *giving* the rich money, it’s about taking less of their money to begin with. If we don’t allow individuals to accumulate wealth then most of the wealth won’t be created to begin with, as well as a lot of jobs and new technology.

[@SeraphsWitness]

You could tax billionaires at 100% and it still wouldn't cover the cost. The math does not work.@@Alan0000able

[@rave400v6]

The money that was sent overseas should start paying back.

[@aaronpierson8748]

Hopefully by increasing childhood obesity we can bring down the age people live and get social security back under control.

[@kenfigured6956]

If these politicians had to rely on social security and Medicare for their retirement they would fix it in a hurry!

[@themasterrogerdelgado]

Those of us who pay for our own medical insurance DO NOTICE the price increases, John.

[@grumpyshorts1056]

If Gov would've left it alone a long time ago, it would still be in great shape.

[@Javalipapere]

We have political leaders who just refuse to cut spending. Both parties lie as the Dollar will continue dropping in value thus lowering seniors ability to sustain themselves in later years. We need real cuts and please pressure your Congressman to cite 3 government agencies to reduce spending or get rid of.

[@user-mr1ku5iz8l]

Since Social Security is broke and I won't see a dime of it, WHY THE HELL am I still being taxed for it?

[@notsure7874]

Because it was NEVER a retirement savings plan. It was ALWAYS money being taken from young workers to hand out to retirees. It seems like a retirement savings plan, because you pay in your whole life, then you take out later .. but you were paying for your parents / grandparents benefits, not paying for your own.

[@KyleReeseCel2029]

Because they'll jail you for not paying into the system.

[@iamtheoffenderofall]

Because LIBERALS will ALWAYS steal from the productive to give to the roaches of society. There will always be more roaches of society than producers so these roaches just vote themselves more money.

[@734ch3r]

It's easier to understand if you consider the Government as the mob and taxation as extortion.

[@hint0122]

Because it's a ponzi scheme