Social Security Crisis Fuels Texit Support

Social Security Crisis Fuels Texit Support

Social Security spending is headed for an unprecedented shortfall. According to a report on the CNBC website, the Social Security Administration has projected “that unfunded obligations will reach $11.4 trillion by 2090.” This is an increase of $700 billion over previous projections.

Unfortunately, that’s not even the worst estimate for future unfunded mandates like Social Security. In another projection cited in the same article, by the year 2090, the U.S. is looking at unfunded obligations to the tune of $32.1 Trillion. To give you a sense of scale, according to Statista, in 2015, the Gross Domestic Product for the United States was 17.95 trillion in U.S. Dollars. Assuming GDP conditions remain the same in 2090 as they are now, Social Security alone will cost more than twice the dollar value of all services and goods produced in the U.S. in one year.

Needless to say, this level of spending is unsustainable under current economic conditions, but according to CNBC, neither major political party’s nominees have created plans to deal with the looming crisis.
An important question for those considering supporting the Texas Nationalist Movement concerns what will happen to their Social Security. While TNM maintains that the U.S. Federal Government should fulfill its obligations to all that have paid into that system, even in the event of Texas Independence, it is important to note that with its impending insolvency, Social Security likely will not be there for retiring Texans in a very few years. The broken state of Washington and economic realities make averting the program’s extinction very unlikely.

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