A Way Out

Source: American Institute for Economic Research
by Antony Davies

“At some point over the next 13 years, Social Security will undergo big changes when, according to the Social Security Board of Trustees, the program will become insolvent. Politicians like Elizabeth Warren and Bernie Sanders have tried to calm the waters by saying that Social Security will not be bankrupt because it will be able to continue to pay out a ‘substantial portion’ of benefits. Out here in the real world, ‘solvent’ means that you can pay all, not merely a portion, of what you promised to pay. And Social Security will not be able to pay what it promised. … We don’t need a fix for Social Security. We need a way out. And it turns out that there is a way out.” (08/01/22)