BIDEN’S AMERICA: Social Security Crisis Could Devastate 70 Million Retirees

According to a new government report, a staggering 70 million retirees could see their Social Security benefits slashed within just nine years unless Congress steps in. This isn’t a hypothetical scenario—this is a stark reality that could leave millions of Americans in financial turmoil.

The latest Social Security Trustees report reveals that the Old-Age and Survivors Insurance (OASI) trust fund is projected to run dry by 2033. If Congress does nothing, there will only be enough incoming cash from taxes to cover about 79% of the benefits. This means around 70 million people would see their benefit checks shrink significantly.

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What is causing this shortfall? For decades, Social Security had a surplus, fueled by strong population growth and economic expansion. This surplus was invested in special U.S. Treasury bonds. But now, as baby boomers retire and life expectancies rise, the total benefits paid out have skyrocketed. Meanwhile, lower birth rates mean fewer workers are paying into the system. Since 2018, the program has paid out more in retirement benefits than it has received in taxes.

In 2022, the SSA withdrew $70.4 billion from the OASI trust fund to cover retirement benefits, leaving $2.64 trillion at the end of the year. But as more people start collecting benefits and the workforce growth can’t keep up, this drawdown rate will accelerate. By 2033, the trust fund will be empty, and incoming taxes will only cover a fraction of the benefits.

With Joe Biden at the helm, no realistic solutions will be implemented, which could leave 70 million retirees in the dark. Many are calling this “typical” of Biden’s America.

The looming collapse of Social Security is a wake-up call for all retirees. With 70 million retirees facing potential benefit cuts in just nine years, it’s time to take proactive steps to protect your financial future. The harsh reality is that Social Security cannot be relied upon. The system is on the brink of depletion, and Congress’s inaction only accelerates the crisis.

So, what can you do? Do the best you can to safeguard your wealth now. One of the best hedges against rising costs and a crumbling Social Security system is investing in precious metals. Gold and silver have stood the test of time as reliable stores of value, protecting against inflation and economic instability.

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Unlike paper currency, precious metals are tangible assets that hold intrinsic value. When the dollar falls and Social Security benefits are slashed, those with investments in gold and silver will find a safety net amidst the chaos. Don’t wait for Congress to act—take control of your financial security today.

Many experts have advised retirees to invest in precious metals to ensure their retirement is shielded from the economic uncertainties ahead. Prepare now, stay informed, and protect your hard-earned money from a system that’s proving increasingly unreliable.

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