US govt. admits Social Security going bankrupt; warns public should be given ‘adequate time to prepare’ for the collapse
by: J. D. Heyes
NaturalNews.com
Tuesday, November 17, 2015
For years now, government agencies, politicians, economists and pundits have tried to sound the alarm over the federal government’s out-of-control spending and spiraling national debt.
The predictions of dire financial consequences have actually been widely publicized in the mainstream. In July 2014, for example, The Hill reported on an analysis by the Congressional Budget Office that Congress’ and the White House’s inability to control or reform entitlement spending – considered to be politically radioactive by members of both parties – is collapsing the budget.
The Hill reported further:
The CBO said the rising costs of entitlement programs like Medicare and Social Security as the U.S. population continues to age are the drivers of U.S. debt.
“Debt would be on an upward path relative to the size of the economy, a trend that could not be sustained indefinitely,” the CBO report said.
Unbelievable honesty – for a change
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