Guaranteed...to a point.
What many miss about Medicare & Social Security when they claim "I paid for it" is that most will receive greater benefits than their contributions & interest would cover. AND its a lifetime guarantee. Much more like a combination of annuity & insurance.
Like any annuity & insurance policy the 'guaranty' is only as good as the guarantor which in this case is the US govt. The risk that these programs will 'run out of money' due to deficit spending, most recently accelerated greatly due to recent tax cuts, are balanced by the taxation power of a nation. I can't even hallucinate a scenario where US politicians would vote in a majority to reduce seniors benefits ... so the taxes will go up & benefits will be paid.
|