Episode 309: Liabilities, Rights, the Commerce Clause, and Significance
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The Federal Reserve Will Have to Increase Payroll Taxes or Cut Social Security Benefits by 20 to 25 Percent
On the low end, people have estimated that the unfunded liabilities are about 100 trillion dollars. Congress within the next 10 to 15 years is going to have to either increase payroll taxes by around 20 to 25 percent or cut social security benefits,. It's a combination of the two and don't forget the magic sauce. The Federal Reserve just kind of prints the money but then you pay an inflation.
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