A friend of mine posted this. Itโs hardly being talked about, but it needs to now.
โI read something genuinely interesting about the elections last night that I hadnโt seen discussed anywhere else. For the first time in our countryโs history, the Senators elected last night, if they serve their full six year terms will be forced to deal with social security actively running out of reserve funds.
Right now itโs projected the social security trust fund will deplete by 2032 due to a structural mismatch between revenues being paid in and the number of retirees drawing benefits. Without any adjustments, payments to seniors will be decreased anywhere from 22-26% outright that year to automatically match the money coming in to the fund. To avoid a huge benefit cut to seniors payroll taxes would have to rise nearly $400 billion annually, or roughly another $3,000 out of paychecks every year on the median wage. The choice is pretty binary, either seniors take a hit or those currently working take a hit.
There are very few easy solutions to a problem that has been building for decades now and it is shocking to me how little discussion I see about this. We are, right now, electing the leaders that will make critical decisions directly impacting the largest wealth transfer system in our country and the numbers will force us to make choices. This is likely to be the biggest decision they make in their time in office, with the most direct impact on every single American. We are close enough to the edge that these questions need to be asked urgently. In six yearsโ time, what do we do?โ
Tomorrow would be a great day to use a streetcar to move thousands across Downtown. But Milwaukee will turn it off instead of creating a barrier to allow it to cross parade route.
Garrett Mitchell and Sal Frelick on playing the @Brewers style of baseball:
Mitchell: โThis is our brand of baseball. This is what we grew up playing. For me, it just feels comfortable.โ
Frelick: โMurph tells me all the time if I was on any other team I wouldn't have a job.โ