It's not 2038 that Social Security is bankrupt. It's now.
Sentiment: NEGATIVE
We know that Medicare is set to go bankrupt in 2024 with no action, and social security is set to be insolvent by 2037.
No matter how many times you say Social Security is broke, the reality is that Social Security's independent revenue stream and its Trust Fund's investments maintain the program's solvency until 2037, when it may begin to fall short.
The reason to deal with Social Security is that it is a system where we have a tradition and history of making sure it is solidly funded for 75 years. At the moment, we look out and we see it is solidly funded until 2037.
While Social Security faces some long-term challenges, the system is not in crisis.
Certainly Social Security needs to be reformed.
The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.
I do not believe that the Social Security system is in crisis.
I do not believe that the Social Security system is in crisis. The Social Security Administration itself recently reported that the system is able to pay full benefits as they are defined today until at least 2042.
We are confronting a situation in which the Administration, in my view, is once again manufacturing a crisis. There is no crisis in the Social Security system. The system is not on the verge of bankruptcy.
The administration in my view is once again manufacturing a crisis. There is no crisis in the Social Security system. The system is not on the verge of bankruptcy.