Social Security Looks Good From Here at 75

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this blind optimism is really warranted. Given the fact that Social Security alone has over $12 trillion in unfunded liabilities, the price tag is not "relatively modest" in the least bit, it's astronomical! Social Security is fundamentally flawed, there are more people retiring and fewer people working. It's that simple, and Social Security is just too expensive. Privatizing Social Security allows for competition, which will drive the price down and the quality up. That's how the market works.

Kyle of IL 6:18PM September 02, 2010

Let's not forget the other vital features of the Social Security System, namely disability and survivor's benefits as well as spousal benefits for a lower earning spouse. These benefits made the difference for me between living in poverty at the age of eleven and achieving higher education, a professional career and a decent retirement. Younger people are often unaware of these benefits (they are availble generally after reaching the 40 quarters of earnings and SS contributions) which can come into play far earlier than 62 or 67 as needed.
Happy Birthday! Long live Social Security!

Ralph Messinger of NJ 9:01AM July 02, 2010

I agree, but it does need some minor adjustments, mostly to make sure it keeps up with the changing world. Bing Chen, an expert on Social Security, has an excellent post about that today: http://www.newdeal20.org/2010/06/24/social-securitys-family-benefits-and-the-fiscal-commission-13306/

Bryce of NY 3:29PM June 24, 2010

social security will be fine with some minor adjustments,it;s a program that has served us well.beware of people the likes of former pres. bush and current u.s senate candidate, from nevada,sharron angle who want to privatize the system,code for lets turn it over to wall street so they can gamble with more of our money.

bruce b of NV 1:12PM June 23, 2010