The U.S., being Monetarily Sovereign, has the unlimited ability to create its own sovereign currency, the U.S. dollar. The notion that a department of the U.S. government can become insolvent is like saying the mail room of a large, infinitely wealthy corporation can become insolvent — an obvious impossibility unless the corporation were arbitrarily to decide not to pay the mail room’s expenses.
It takes only two things to keep people in chains:
The ignorance of the oppressed
And the treachery of their leaders
You endlessly have been told that Medicare and Social Security Trust funds will, in the near future, run short of money unless benefits are decreased or taxes are increased.
In the post, “Fake federal trust funds and fake concerns“ we debunk this false idea. Today, I’ll suggest what you can do to help protect your Medicare and Social Security.
First, as a quick refresher, here are excerpts from a very short article in THE WEEK Magazine, June 22, 2018:t
Nolan Finley: The annual report from the trustees of Social Security and Medicare shows that both programs “have accelerated their race toward the brick wall of insolvency.”
Social Security will spend more money this year than it takes in for the first time since 1983.
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