@iluminatibot Interest is $58 a month. After years of paying $50 a month, he's left with slightly more than the original balance. If he paid on a normal 10 year schedule, he would have paid $105 a month, and not been in this situation
I have no faith it will even by around by 2060. The fact that I'm losing tons of money letting the govt manage my retirement is it's own tax. The rate itself went up from 2% to 12.4%, which is honestly outrageous. But you're right, at least you're supposed to get something.
Then you have medicaid, spending almost a trillion a year. Cost per capita 12k, which is 20% higher than a good private insurance plan.
Then you have various programs, some better than others, costing another trillion.
Interest on debt is a trillion.
Defense a trillion.
500 billion is the rest of govt
In 2025 we spent 7 trillion. And social security is just another income redistribution scheme. Taxes went up 6x, and it's still projected not to be able to pay out in full. Payments across the board are less than what they would be if invested, white the taxes you pay goes to current retirees. So yea, most of the federal spending is on social programs
@RoyalCherrylite @0hour1 She's shopping at whole foods.
"her area" is probably expensive too, but why? Usually overpriced areas follow certain policies that make them more expensive. I packed up and left 1 such area, and among my savings was $100 a week in food
@Crushemsparty@ATLCWorker 75% of my tax money goes to social programs. Most of the interest on the debt is from deficits driven by excessive social spending. Only $1.5 trillion out of the $7 trillion total, is spent on military and govt operations
@Crushemsparty@ATLCWorker No it doesn't, every dollar printed makes a previously earned dollar worth less. It's more like diluting your wine with water and calling it unlimited drinks on the house