Would you settle your claims on Social Security for 80 cents on the dollar? (I would)
Creditors of an insolvent debtor can agree to settle their claims for less than 100 cents on the dollar. So why not the American people when it comes to Social Security?
April 26, 2012
Rob Green/Bergman Group
Article Highlights
- The fair settlement for #SocialSecurity is now 80 cents on the dollar
- Would you settle your claims on #SocialSecurity for 80 cents on the dollar?
- The solution to #SocialSecurity is choice
Current headlines read: “Social Security’s Financial Forecast Gets Darker”; “Stress Rises on Social Security.”
Well, yes: but who is surprised?
Certainly not young people, who are rightly skeptical about whether Social Security in the future will be able to give them back the money it takes from them today.
The problem is pretty basic: According to the new calculations of the Social Security Trustees’ 2012 Report, Social Security’s future costs are a lot bigger than its future income.
Read the full article on American.com
Alex J. Pollock is a resident fellow at AEI.
