I’m wondering what would have happened during FDR when he implemented Social Security.
Social Security was an affordable ‘pension’ plan for most working people with the benefit of matching contributions by employers. Based on life expectancy in the 40’s and no disability payments before 65, it was an attractive money maker for the Government.
US Life expectancy today is only around 78 - so on average people who work and contribute for 40 years will only get benefits for 13 years.
http://www.data360.org/dsg.aspx?Data_Set_Group_Id=195
Federal abuses and malfeasance to the SS funds over the past decades have perverted a reasonable annuity plan. If SS had been privatized it would have been successful.