I have previously made the claim that by 2032, when Social Security becomes insolvent, that the US will face a fiscal crisis. Now I am reading that it could come even sooner:
If the games do not stop by 2024 Medicare will run out of money and be forced to curtail care for Seniors or attempt to throw the entire deficit in its spending into the Federal Budget. At that point The Fed will lose control entirely as will Congress, since effectively shutting off Medicare for Seniors will prove politically impossible. We are talking about $2 trillion a year deficits forever once this occurs and the market will not allow that to happen.
https://market-ticker.org/akcs-www?post=234753
I am not endorsing this opinion, since I have made enough inaccurate predictions, and I think that our system is more resilient than I had previously thought. Nevertheless it is something to consider:
Could the Fed and Congress lose control of the system by 2024? What this would look like is $2 trillion/year deficits and resulting inflation, then hyper-inflation.
Can somebody convince me that this is not a likely scenario?
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