[XHogPilot]

Unlike responsible plan administrators, which save all retirement contributions rather than spend them, the government immediately spends most of our Social Security contributions on current retirees. Were other retirement plans to do that, it would constitute an illegal Ponzi scheme, in which money from new investors is used to pay off old investors.

If one compares how Social Security is run to how most companies run their retirement plans, the reckless mismanagement of Social Security becomes obvious.

[anniegetyourgun]

It's so much worse than Enron.....

[Archon of the East]

Just another one of an infinite number of offenses committed by all governments throughout all of history that reinforces the idea that less government is best. Human nature, power, extortion, force and tyranny is what ultimately happens.

[LibertarianInExile]

"1.) Future retirees will be denied at least some of their promised retirement benefits; 2.) Higher Social Security-related taxes and/or deficit-induced interest rates will cause a painful recession, slower long-term economic growth, or both; 3.) Spending on traditional government programs (e.g. environment, transportation, defense, national parks) will continue to get crowded out by ever-growing spending on Social Security and other entitlements."

Or 4.) all of the above.

[BIGZ]

There is no one solution to the problem, there are several adjustments to the SS system that will result in stable program. Some adjustments need are, increasing the age for collection, tax adjustments, limitings the largess of the program, personal accounts, but the most important for success is that all employees PUBLIC and private pay into the system.

Why should the PUBLIC employees be allowed to opt out.