The bad news about the Social Security Trust Funds is NOT new news! This has been projected for years. I’ve been wondering when the younger generations would rebel at these mandatory contributions. Then again, they ARE mandatory –just as income taxes! And you don’t get to withhold from paying taxes because you don’t like what the government is spending your money on!!
Anyway, this is a basic promise of the government. So when the time comes they will just “print” the money to pay the promised benefits — just s they’ve done for everything else. They will “borrow” the money by selling US Treasury debt — and the Fed will buy the debt — and pay for it with newly created liquidity.
Now, what those dollars will be “worth” when everyone catches on? That i9s the $64 TRILLION dollar question!