
It has been known for some time that the Social Security fund was inadequate to cover the retirement of the baby boomer generation. However, the recent unemployment spike–now at 5.1 million without work–has moved the insolvency of the Social Security fund to next year.
For some time the Social Security fund actually ran a surplus and the US government borrowed this surplus to fund other programs (like military and bailouts). Now that this will be gone, they will have to resort to printing more dollars and selling more US treasuries to not only cover the programs that were funded by the surplus in Social Security, but also to pay for Social Security itself.
So why does this matter? As the recent bailouts–now reaching $13 trillion–show the government can continue just borrowing money and paying it back later, right?
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Being this is the first full moon I experienced living out in the country away from light pollution, I just realized it’s really bright. So bright, that it casts shadows. It’s almost like night and day from when the moon is not full, going from pitch black outside to illuminating about the same as a giant street light.