Biden: "the wealthy should pay more to keep social security solvent"
Social Security is underfunded by $175 trillion. The "wealthy" will need to pay 7x US GDP in taxes to keep it solvent
— zerohedge (@zerohedge) June 28, 2024
According to the latest U.S. Treasury Department report, these programs are underfunded by a staggering $175 trillion. To put this into perspective, that amounts to approximately $1.4 million per household, far surpassing the median household net worth in the U.S. This financial gap poses a serious challenge, and without substantial changes, it could jeopardize the sustainability of these programs for future generations.
abcstlouis.com/news/nation-world/medicare-and-social-security-face-175-trillion-shortfall-risking-future-generations-treasury-department-inflation-economy
www.tftc.io/social-security-medicare-funding-crisis/
www.tftc.io/looming-retirement-crisis-social-security/
www.msn.com/en-za/news/other/medicare-and-social-security-are-both-in-crisis-as-underfunding-hits-175-trillion-almost-double-the-economic-output-of-every-country-on-earth/ar-BB1jcsAZ