right?

So it's better to put $100 into BitCoin rather than the entire goose and hope bitcoin goes up in value or if it does go down oh well no serious damage

So these very 40 million people are paying for 40 years at most

are contributing to the social security bank account

and then 40 years pass

It turns out not all 40 million people contributed for 40 years straight.

Some lost their jobs, but qualify for social security checks

Some got salary increased during their last 5 years and qualify for a higher social security reward based on the last 5 year rather than their 35 years of working

and so on

Because Social Security shareholders are doing fine

They are investing the best they can and hoping a +5% value increase

and this is probably the only time the government actually does it good

Because it is run by a private board of trustee who ensure these people's money will increase in time

But then here's where the government fucks up

People expected right after 65

you would live up to 80

then die

Meaning you would contribute at most 40 years of your income into the fund

but then get rewarded up to 25 years of your income on interest out of the fund

So the Social Security bank should theoretically

go up in value

right?

no.

People are living much longer.

People are demanding more social security rewards

People are using social security loopholes which I can't explain in one chat atm

Some at 2004 said the social security fund is expected to run out in 2018

It's 2019 right now, and we're still doing fine

but the gap is still huge

It turns out the baby boomers are dying faster than estimated to be (since they were growing out of their estimated lifespan when currently calculating for the boomers)

and this current generation of zoomers are growing more and contributing more

So the current situation?

We're fine for now

But that gap in unfunded liability and funded liability is growing and growing.

for comparison, the 2004 article listed the gap was only 20%

Now our gap is currently at 37%

The gap is essentially "what if everybody wanted to cash in their checks right now" and the gap represents how much money the US needs to owe to pay it off to everybody

and it's not just social security

it's medicare as well

medical services are costing more and more

People contribute to medicare and don't get anything until they are old enough (65) to qualify