>>515765298
>Just about every generation after boomers knows there will be no social security or any govt benefits
Even the younger boomers will be getting shafted. The youngest boomers just turned 60 this year. What most people don't realize is:
THERE IS NO SOCIAL SECURITY TRUST FUND.
The US government took the social security surplus and invested it into the most secure US dollar investment instrument in the world.
US Government bonds. That's right, the US government took the social security money and SPENT IT, leaving an IOU. Boomer entitlements are getting paid out of current revenue/deficit spending TODAY.
The $100-$200 trillion in net present value of entitlements will have to be ENTIRELY printed. The rub is that many of those entitlements are inflation adjusted. For example, boomer needs a new hip. That's $100k today, and ten years from now the doctor/hospital will demand a price likely to be much higher than the CPI would dictate, so that means either printing MORE money, denying/delaying services, or some combination of both.
Canada typically delays medical treatment until the patient either dies, seeks private care inside or outside the country, or manages to outlast the multi year waiting list.
As the person in this video speculates, there will be no change in the US fiscal system until enough boomers die out to where they no longer have a dominant political voice.
https://youtu.be/8aSOf31fZ68?t=3718
