The US Treasury reports that the social security trust fund ( an accounting fiction, but work with us…) will be exhausted in 2037, up from 2041 last year.
Medicare will become insolvent in 2017 versus last year’s 2019 estimate.
These sad facts couple with huge deficits to sets a very difficult backdrop for the economy in the coming years as the populace ages.
The only bright side for the US is that while we have a pension problem a decade down the road, Germany, Japan and other developed countries have one already unfolding.
tsunami
