martin armstrong on social security;

When questioned about the future of Social Security by the Senate Finance Committee, Treasury Secretary Janet Yellen admitted that Biden “doesn’t have a plan.” There could be no possible plan for an ongoing Ponzi scheme that will fail once the fund runs out of money.

Estimates believe Social Security will reach insolvency before 2034. “I don’t have that computation to offer you,” before saying, “The president doesn’t have a plan. He has principles.” Principles do not put food on the table.

Of course, lawmakers immediately look at raising our taxes. “I’ll note that there’s already been $4.9 trillion in new taxes proposed for those making over $400,000 a year. It seems to be the go-to place, fill in the blank, we’re going to tax those over $400,000 a year for whatever,” Sen. Bill Cassidy, R-La., told Yellen. “Of that $4.9 trillion, none of that has been dedicated to Social Security.” We are raising taxes to fund extravagant climate change packages and wars. None of the money we give to our government goes back into the community.........more........