by James Hickman
Schiff Sovereign
Social Security’s annual trust fund report was released yesterday… and, no surprise, the report states very clearly that trust fund balances “are projected to become depleted during 2033.”
Allow me to repeat that: Social Security’s most important trust fund will run out of money in nine years.
This is a fact, not some wild conspiracy theory; remember that the annual report is signed by top government officials including the United States Secretaries of the Treasury, Labor, and Health and Human Services… so the projection is about as official as it can get.
But if you dive into the report, you quickly notice that even such a grim forecast may, in fact, be too optimistic.