Oh, fantastic news! President Joe Biden has signed the bipartisan Social Security Fairness Act, a move sure to warm the hearts of retired public sector workers while simultaneously torching the national debt to the tune of a cool $196 billion—at least.

The act eliminates the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), two little rules that dared to adjust retirement benefits for public sector workers who also collected Social Security. Who needs pesky safeguards when you can have bigger checks and a rapidly depleting Social Security fund?

For those unfamiliar, the WEP previously reduced Social Security benefits for folks who had the audacity to work both government and private-sector jobs, meaning they are collecting a pension and social security. The GPO, meanwhile, made similar tweaks for spouses and survivors with government pensions.

According to Biden, this is all about giving hardworking Americans the chance to retire with “economic security and dignity.” He even managed to squeeze out a humble brag about playing a “small part” in this fiscal marvel. Retirees can expect an average bump of $360 a month, and more than 2.5 million of them will enjoy a delightful lump sum of back pay for 2024. Surely, that won’t cause any long-term issues, right?

But wait, there’s more! While the Congressional Budget Office is being all cute and conservative with its $196 billion price tag, fiscal watchdogs suggest the real cost could hit $233 billion, thanks to interest. Oh, and it’ll speed up Social Security’s insolvency by six months. You know, the one already hurtling toward collapse in 2035.

The national debt ballooned by $2.5 trillion in 2024 alone, hitting a staggering $36.3 trillion. But hey, what’s a few hundred billion more when the credit card is already maxed out? Enjoy the extra cash, retirees—just don’t ask about the future.