Is Social Security Bankrupt?

Is Social Security bankrupt? According to Prof. Anthony Davies, it isn’t bankrupt yet, but it will be soon. Davies warns that as a simple matter of mathematics, the current system is unsustainable.

To see the timeline in greater detail, visit: http://www.antolin-davies.com/conventionalwisdom/isssbankrupt.pdf

6 Comments

  1. Brian Phillips

    Considering the size of the baby boomer generation compared to their children, this is inevitable.  The entitlement system needs to slowly be wound down, but will it happen as long as politicians are able to use entitlements to win votes?  probably not.

  2. mikeknightofdawn

    So, how do we make it so that our children can legally not opt into this mess?

    I for one would be more than willing to walk away from my 14 years of ‘contributing’ (through the use of coercion and threats of violence) to just not have to pay into this mess any further.

  3. taschrant

    I thought it was Milton Friedman who suggested that the government issues bonds to everybody and then close the books on Social Security.  Everybody gets what they deserve.

  4. Lukas Koube

    well played, sir! a fantastic video about SS…i always like your stuff!

  5. Kyle Martinez

    People will probably wait until Social Security goes bankrupt before they do anything.

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