Reason - Until 2010, Americans paid more in Social Security taxes
than the program paid out in benefits. The extra money wasn't saved but
passed on to be spent by the rest of the federal government in return
for IOUs. That point passed as the ratio of workers to retirees dropped
and seems unlikely to shift back given the country's declining birth
rate and aging population. That means the difference between revenues
and expenditures is now made up, as it is across the rest of the federal
government, by borrowing. As Social Security cashes in those IOUs, the
Treasury will borrow an estimated $4.1 trillion plus interest to fund
the program between now and 2033...What's so special about 2033? That's the year the well of IOUs is expected to start running dry.
PBS News - In the 1980s, about 70% of clothes sold in the U.S. were made in the country. Today, it’s down to just 3%.
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