https://m.youtube.com/watch?v=Erp8IAUouus&pp=ygUYY2dwIGdyZXk...
Is it “tacitly understanding” when you've been bathed your whole life in active propaganda promoting an idea? Because, on this, if you are in any cohort from Gen X, or maybe the trailing edge of thr Boomers, on, you have been.
Inflation will make them worthless, but we'll get our checks :)
Cranking the money printer just drives up nominal social security benefits to compensate (for current retires) or more (because easy money drives higher wages).
This is not true, it's propaganda promoted by rich people who want to get rid of social security. It could be eliminated for political reasons, but spreading this idea that it's going to "run out of money" only makes that more likely. The government cannot run out of its own money. It can cause inflation, but continuing to pay social security benefits is not going to suddenly cause massive inflation. The only way social security could end is if politicians and voters decide they don't want it anymore.
Social security is a massive portion of federal spending, indefinitely printing money to fund it is not sustainable and will cause significant inflation
You are right that they will continue printing money regardless, and at this point it's too late for a 20% reduction to fix anything. Might as well just take the checks while you can and make the most of it, not much else you can do. But that doesn't mean its sustainable or will last forever.
“US Inflation Rate is at 3.70%, compared to 3.67% last month and 8.20% last year. This is higher than the long term average of 3.28%.”
I would hardly call something that’s only slightly above average (and less than half of what it was a year ago) as “rising rapidly“.
Exactly: “social security is going to be gone by the time you would get it” is a line peddled almost entirely by political activists looking to build support for eliminating social security, and it has been such a line for the entire life span of people who are now old enough to receive SS old age retirement benefits.