No, Social Security is not going to go bankrupt

Lawmakers and others have claimed over the years that Social Security will go bankrupt in the future.

About 67 million Americans rely on benefit payments from the federal program, which provides people with an income when they retire or can’t work due to disability.

As the rumors continue to spread in 2023, an advocacy group called Social Security Works claimed in a June tweet that it’s “impossible for Social Security to go bankrupt.”

[googleaccount]

In other words everybody has been calling it the wrong thing. The correct term is "in default", not "bankrupt".

Otherwise what we originally thought will still happen.

[jimparker]

Social Security is a TAX the government applies to employers and their employees--as well as the self employed. They calculate your obligation based on a simple formula that anybody with a calculator can manage. They forced employers to handle the administration of collecting THEIR tax dollars, and provide stiff penalties for those who don't comply. Social Security is not a benefit, because they pay benefits according to their whims. What they do would be called a fiat or a Ponzi scheme if you or me tried it. Bogus reporting. This so called news team relied on the three pillars of the Washington establishment to provide their report.

[ivansalkin-zhdh]

We really need to change the term "journalist".

[edquinnell]

Illegals and People who never contributed should not receive benefits