Social Security insolvency 2

Thanks for the thoughtful comments on my first posting.

Dan commented on the lack of political will to either raise taxes or reduce benefits. Making such changes might not be easy for elected representatives, but being able to campaign on having saved Social Security could provide them some political benefits as well. They could also introduce the benefits changes gradually (as was done with raising full retirement age to 67 and introducing the sliding scale of benefit amounts based on retirement age between 62 and 70) so the reductions only affect future beneficiaries.

Mike commented that the government should start properly accounting for all current and future financial obligations. I absolutely agree.