What are young people going to do when the US government runs out of social security?

[zurew]

On 2022. 10. 06. at 2:29 AM, Hardkill said:

Then, does this mean that Social Security is probably going to be doomed in the next decade?

Probably the government will need to incentivise people by making social security payments much higher and that might 'solve' the problem for the moment, but in the longrun it won't be affordable, but it will buy some time.

[Hatfort]

Dance.

[Clabber Girl]

I dont think millennials will have much in terms of SS, buy assets so that you wont need it. Or save enough now so that you don't rely on the government. 

Also - I think there needs to be a more stringent process for SS, not everyone needs it when they are old. Only those who need it should be paid SS.

[Michael569]

One way is to take initiative and responsibility in your hands while you are young and dedicate at least 2 hours a day to figuring out what you want to do with your life in order to escape wage slavery and then pursue that as if you life depended on it. If you can sufficiently capitalise on that, getting some pension later on will be nice but it won't be the thing keeping you from poverty. 

 

[RareGodzilla]

I think we are in for interesting times. The world is ageing. There's going to be a lack of young people who can work. To some extent, migration can help, but I don't think it will be enough.

The question is whether technology will be able to replace the young workforce. If it can, it's actually good for the environment that there are fewer people. If it can't, there could be some problems.

[Sempiternity]

Granted I don't know enough about how US government systems fully work, but wouldn't his be as simple as the President signing an executive order, or passing a Reconciliation bill, that doesn't require Senate majority? Don't they do this kind of thing all the time to raise the budget, extend programs, and avert government shutdowns? So they could just easily dump many billions into the program to shore it up. Where that money comes from is another story, but the US doesn't seem to be worried about transferring billions to this or that on a regular basis it seems.