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It is not going to "run out". That is republican talking point and propaganda. God damn that myth is believed by everyone.
The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security, but are not well understood. Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits. ^1
75% of benefits will still be paid in even the worse case scenario. The fear mongering is not necessary.
I know this is false because I've looked into how it works, and it still makes me feel sick to hear every time. Of course, the truth is bad enough, we don't need to lie.
"I only robbed you of 25% of your income, what are you complaining about?"
What people mean when they say "run out" is that it won't be able to keep up with its obligations. That is objectively bad. People will get reduced payments. There will be pain.
What people mean when they say "run out" is that it won't be able to keep up with its obligations.
Huh. Maybe I'm just built diff, but when I hear "run out", I think "run out", as in "none will be left"; "the bucket will be empty"; "there will be nothing left in the coffers".
Maybe I can illustrate better. Imagine your boss goes to pay you your paycheck and gives you and your coworkers 75% of what you're supposed to be paid instead of 100%. You say, "Hey, where's my other 25%" and they respond, "I don't have any more, we ran out of money to pay you. We had to adjust to stay sustainable. You'll only get 75% until our finances change." Would you say, "well, since there's still savings maybe, and there's gonna be a bunch of new money the next time you go to pay out, just not enough, you technically didn't run out. That's technically something else?" I don't know, maybe you would. I'd call that running out, though.
You are just changing the definition of words so that your new meaning lines up. Which I guess is one way to approach the argument. But not necessarily a helpful one.
Please see my comment here.