Okay, we’re not really connecting here. Social Security isn’t fine, people would be better off taking responsibility for their retirement rather than depending on the Federal Government...they’d be better off putting their money into savings and rely on compound interest...they’d be better letting money be invested or investing themselves. The unfunded liabilities of Social Security total $13 trillion....by law the “surplus” was spent...it is still a pyramid scheme relying on more and more workers to retirees when in fact it is just the opposite....75 million baby boomers are going to start drawing...the demographics will crush the system. I don’t understand why people talk about Social Security as if we cannot have a world without it.
Whatever, I know the SS surplus has been spent. In its place SS holds about $2.5 trillion in non-negotiable US government bonds. Of course it’s unfunded since they ready cash is not there. Not sure what period is being looked at to arrive at $13 trillion. - But it depends upon whether our government finally begins making tough decisions to put our finances on a sounder footing.
If there were no SS system, there would be many millions of elderly people with no income and no means of support. I think every advanced nation on earth has some sort of pension system. I agree with Paul Ryan’s reform (as opposed to W’s) which would allow personal accounts for part of it, but only in safe investments. Any real high flyers will have other investments to satisfy their desire for higher returns. - There are things to dislike about SS, but they are small when compared to millions of elderly with no income to live on.