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.
You aren’t sure what period is being looked at...over the next two decades, 10,000 baby boomers will retire each day. Maybe you can understand how paying an additional 80 million people can lead to an unfunded liability of $13 trillion, which is a figure comes from the Social Security Trustees. Your retort is the stuff of liberal propaganda...without having people depend on the government to provide for their retirement is going to led to millions of people dying in the streets...spare me the melodrama. Why does the Federal Government need to take my money...turn around and give my money away to others....all on the promise that if I live to age 65...they’ll take someone else’s money and give it to me...but wait...they currently are paying out more in benefits than they are collecting...you could retire with more money by simply opening up a savings account...but people like you still endorse this idea that we need the Nanny State.