praxeologist on Nostr: https://i.ibb.co/tmV2cFL/In-Shot-20250102-135549843.jpg According to the 2018 ...
According to the 2018 trustees’ report, Medicare faces a $37 trillion unfunded liability over the next 75 years, and Social Security $13 trillion. None of this is part of the $34 trillion U.S. debt as of 2024.
"But why worry? Taxpayers pay in now, then get paid later when they're old. Problem solved!" Now let’s look at reality:
1- Aging Population: In case anyone missed it, populations in most developed countries are aging fast. Fewer workers supporting more retirees. So the math here is simple: fewer people paying into the system, more people taking out. What could go wrong?
2- Rising Costs: Medical technology keeps advancing (good for health, bad for budgets), and people live longer than ever. Healthcare and pension costs grow faster than inflation or GDP. But hey, I’m sure "the rich" can foot the bill, right?
3- Economic Shocks: Tax revenue isn’t a guaranteed stream. A recession hits, revenue drops, and obligations like pensions and Medicare don’t magically shrink. So where does the money come from? Print it? Borrow more? Oh wait, we already maxed that strategy.
But sure, keep telling us that unfunded liabilities aren’t a problem. What’s another few trillion, anyway? It’s not like future taxpayers will mind footing the bill for today’s promises.
#grownostr #fiatstandard #debtcrisis #bitcoin #liberty
Published at
2025-01-02 10:39:11Event JSON
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"content": "https://i.ibb.co/tmV2cFL/In-Shot-20250102-135549843.jpg\n\nAccording to the 2018 trustees’ report, Medicare faces a $37 trillion unfunded liability over the next 75 years, and Social Security $13 trillion. None of this is part of the $34 trillion U.S. debt as of 2024.\n\n\"But why worry? Taxpayers pay in now, then get paid later when they're old. Problem solved!\" Now let’s look at reality:\n\n1- Aging Population: In case anyone missed it, populations in most developed countries are aging fast. Fewer workers supporting more retirees. So the math here is simple: fewer people paying into the system, more people taking out. What could go wrong?\n\n2- Rising Costs: Medical technology keeps advancing (good for health, bad for budgets), and people live longer than ever. Healthcare and pension costs grow faster than inflation or GDP. But hey, I’m sure \"the rich\" can foot the bill, right?\n\n3- Economic Shocks: Tax revenue isn’t a guaranteed stream. A recession hits, revenue drops, and obligations like pensions and Medicare don’t magically shrink. So where does the money come from? Print it? Borrow more? Oh wait, we already maxed that strategy.\n\nBut sure, keep telling us that unfunded liabilities aren’t a problem. What’s another few trillion, anyway? It’s not like future taxpayers will mind footing the bill for today’s promises.\n\n#grownostr #fiatstandard #debtcrisis #bitcoin #liberty",
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