The little-recognized implication of this year's election is that we are never going to fix Social Security. The unsustainability of the crown jewel of the middle-class welfare state is well known. As the Baby Boomers get old, there are fewer younger workers paying taxes to support them. The program's reserves are being spent down and will be thoroughly exhausted some time around 2035, at which point Social Security will only be able to pay out 79 cents of every dollar it has promised in benefits.
The Planning-to-Fail Plan
The Planning-to-Fail Plan
The Planning-to-Fail Plan
The little-recognized implication of this year's election is that we are never going to fix Social Security. The unsustainability of the crown jewel of the middle-class welfare state is well known. As the Baby Boomers get old, there are fewer younger workers paying taxes to support them. The program's reserves are being spent down and will be thoroughly exhausted some time around 2035, at which point Social Security will only be able to pay out 79 cents of every dollar it has promised in benefits.