America’s Retirement Crisis Hits a Breaking PointMay 8, 2025
Retirement security in the United States is at a critical turning point. As the Baby Boomer generation ages, the nation now has more retirement-age individuals—and more households relying on Social Security—than at any point in history. Yet the program is paying out more than it collects, and without legislative action, the Trust Fund will be depleted within a decade. Meanwhile, most private retirement savings have shifted to market-based accounts like 401(k)s, exposing near-retirees to financial volatility they cannot control. This dual vulnerability—an underfunded public system and risky private savings—demands urgent political action to secure promised Social Security benefits, strengthen the Social Security Administration, and pursue economic policies that safeguard household retirement wealth from avoidable market shocks.
Retirement security in the United States is entering its most precarious moment in decades...
Tell us something we don't know Teresa, but the other problem is, the people effected are simply sitting on their hands and doing nothing about it. Not that there
is much they can do, but they could certainly get out of debt and pair back consumption, save a little for the biblical flood so to speak. Perhaps extract some of those funds out of accounts and allocate them to a secure investments outside of the paper pyramid. Even a plot of dirt in the Colorado high country would be better than Tesla shares or NY city skyscrapers.
https://www.economicpolicyresearch.org/ ... king-pointState and local government pensions fare no better of course
Nearly two decades after the GFC, state and local governments are paying record amounts into their public pension funds, yet they still face significant challenges:
America’s pension plans still have $1.34 trillion in unfunded liabilities as of June 2024, and unfunded liabilities have been persistently over $1 trillion since 2008.
The average pension plan funded ratio has not rebounded to pre-Global Financial Crisis levels, and is currently at a fragile 80.6% as of June 2024. (And this is the 17th consecutive year of a fragile funded status.)
https://equable.org/pension-debt-paralysis-persists/The states are technically bankrupt. California touts it has a great economy...
The debt load is large but manageable
The state of California has the nation’s largest amount of tax-supported debt outstanding at $96 billion in 2022 (most recent data available)
https://www.nuveen.com/en-us/insights/m ... et-picture 05 Aug 2024 was the article and 2022 is the best data they could come up with
California is hiding something... I wonder who holds all that crap paper. A case of musical chairs.
And just a day ago.
Faced with paying hundreds of sex abuse claims, The L.A. school board approved the sale of up to $500 million in bonds to settle lawsuits.authorizes up to $500 million in bonds
Just stick in on the never never LA, with luck you politicians will be out of power with your golden parachutes before it all collapses.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
