Monday, March 17, 2014

Social Security Solvency

The spin of dishonest social security defenders like +Michael Hiltzik really gets me upset. Every year we pay for a report from the Social Security trustees. Every year they say that under current law, the program is going to go broke. Because the economy changes, the year goes up or down but it is never actuarially solvent. The young people in this country only get what Social Security promises if the system is actuarially solvent.

The most recent report is for 2013. The bust year in that report is 2033. If you're going to be below retirement age in that year, the experts we're all paying for to estimate the health of Social Security say, you're not getting what was promised.

If you plan to be alive in 2033, the best guess of the government is that you're going to get a radical Social Security benefit cut. Everything else is snake oil and spin.