Trump’s arch now has elevators—and a $100 million price tag
Sailing through a crucial design review, the president’s monumental arch in Washington, D.C., just got a lot more expensive.
In related news:
Social Security checks could decrease by almost 25% in 2032, if Congress doesn’t make changes.
Social Security’s insolvency date is projected for end of 2032
The Coming Social Security Crisis And The Fight To Save It
By 2034, Social Security’s trust funds will run dry unless Congress acts. Medicare’s hospital insurance fund faces the same fate by 2033. Without intervention, all beneficiaries will see benefit cuts.
Republican Priorities: Plenty of money for a useless, grotesque arch; not enough money for Social Security, Medicare, Medicaid or other benefits to ordinary people.
#Monetary Sovereignty - Mitchell 
SOCIAL SECURITY
Mr. Mitchell:
Among other things I am a credentialed pension actuary. You should look at the annual report of the Soc Sec actuary.
I think it states that a 3% additional contribution for FICA would keep the trust fund whole for 75 years. Not sure if this is 3% from employer and another 3% from employee’s wages. I’ll reread it to check.
Of course, Soc Sec needs no trust fund. Govt can fund it the same way they fund defense.
It’s all analyzed in the Actuary’s Report. Delaying full retirement age past 67 is a bad solution.
Finally, people fail to understand that Soc Sec also pays disability, survivors, and children of deceased, disabled, or retired workers.
Reagan, in the early 1980s cut SS by about 49%+. First, he made a portion of it taxable. Second, he ramped up full retirement age from 65 to 67. This ramp-up only affected workers then in their forties. So no one noticed at the time.
The delay to age 67 reduced the value of the benefit about 15%. Also, if you are a $100K/yr earner, 85% of your SS payment became taxable. Combining these reductions reduced the present value of one’s benefit by 40% to 50%, depending on your top marginal tax rate. And they got away with it!
Robert Fellow, Conference of Actuaries Member, American Academy of Actuaries Associate Member of the Society of Actuaries Enrolled Actuary
Also, I’m a pure and applied mathematician. 6th
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Thank you Mr. Steinhorn, for your 100% correct comments. Refreshing in a world currently dominated by ignorance and bigotry.
A wise person said, “The Bible is simple. It boils down to the Golden Rule. All else is mere description.”
Economics too, is simple. For a Monetarily Sovereign government it boils down to three, easily demonstrated truths:
All the rest is mere description.
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