There's no way to sugar-coat it. Social Security is going to fail. There are, of course, ways to possibly extend its life for a few years, or even decades, but ultimately, like all Ponzi schemes, it will collapse. By the federal government's and the Social Security Board of Trustees' own admissions, the Social Security program will be paying out more than it takes in in just 4 years. At current rates (and assuming the federal government fully pays back the more than $5 trillion it "borrowed" from Social Security's accounts), the program will be completely out of money in about 17 years. What does this situation mean for current working Americans? Is there any way to solve this problem? Join Antony Davies and James Harrigan as they discuss this and more on this week's episode of Words and Numbers.

 

Quick hits

 

Splitting up Amazon

https://www.cnbc.com/2018/03/29/former-walmart-us-ceo-congress-consider-splitting-up-amazon.html

 

National pencil day

https://nationaldaycalendar.com/days-2/national-pencil-day-march-30/

 

Foolishness of the week: Cancer warnings on coffee

 

https://fee.org/articles/why-californias-lawsuit-industry-wants-you-to-think-coffee-causes-cancer/?utm_source=FEE+Email+Subscriber+List&utm_campaign=ca27aafa08-MC_FEE_DAILY_2018_04_02&utm_medium=email&utm_term=0_84cc8d089b-ca27aafa08-107137661

 

https://www.cancer.org/cancer/cancer-causes/general-info/cancer-warning-labels-based-on-californias-proposition-65.html

 

https://www.refinery29.com/2018/04/195249/coffee-cancer-warning-label-california-starbucks-dunkin-donuts-reaction?bucketed=true

 

https://nypost.com/2018/03/30/de-blasio-eyes-vacancy-tax-for-greedy-landlords-seeking-top-dollar/?utm_source=facebook_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons

 

Topic of the week: Social Security

 

https://www.cnsnews.com/news/article/terence-p-jeffrey/social-security-administration-spending-tops-1-trillion-first-time

https://www.ssa.gov/policy/trust-funds-summary.html

https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html

https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html

https://www.ssa.gov/history/nestor.html

https://www.nytimes.com/2011/09/18/us/how-privatized-social-security-works-in-galveston.html

https://www.state-journal.com/2018/01/25/you-asked-can-kentucky-teachers-retirement-system-participants-receive-social-security/

https://www.teacherpensions.org/blog/why-aren%E2%80%99t-all-teachers-covered-social-security

https://www.cbsnews.com/news/matt-bevin-kentucky-lawmakers-pass-pension-overhaul-despite-teacher-ire/

 

Learn more about your ad choices. Visit podcastchoices.com/adchoices