A wonderful graphic by Third Way is available here showing the path of Social Security towards insolvency.

Jim Kessler and David Kendall advocate:

“a ‘Savings-Led’ Social Security reform plan that actually increases the program’s progressivity. Our plan makes roughly two dollars in benefit reductions for every one dollar in revenue increases, and achieves solvency while enhancing economic growth.”

I am highly skeptical this proposal can achieve what it claims and I oppose these policy measures. Instead, I advocate allowing individuals to choose where to place their savings rather than rigging up a scheme to coercively attempt to make the Titanic float.

HT: William Shughart II