“Elected officials can’t stand the political heat associated with fixing Social Security, so they punt. As a result, the insolvency of the Social Security Trust Funds is sure to occur only ten years or so from now.” ~ Howard Marks, Oaktree Capital

Howard Marks, Oaktree Capital, stated:  The financially irresponsible behavior of elected leaders in Washington with regard to the several trillion dollar fiscal deficit, ballooning federal debt, and the precariousness solvency of Social Security remind him of the tale of the guy who jumped off the 20-story building. As he passed the 10th floor, he said, ‘So far, so good….’

Our elected federal officials may believe the status quo can be maintained forever, or more likely they count on being out of office by the time the wheels come off and the vehicle crashes. But certainly, they’re not facing up to reality.

Source:  https://www.oaktreecapital.com/insights/memo/more-on-repealing-the-laws-of-economics