President Obama rolled out his big budget and there isn’t a bit of entitlement reform in it. A $3.729 trillion budget with $1.6 trillion in deficit and no entitlement reform.
We need to fix Social Security, and there is a fix. Give Americans the chance to jump out of the system. Pay off the people who are already in it and don’t let anybody who hasn’t worked yet enter it at all.
Cap that system. Cap the losses and move on to something like a Defined Contribution Plan. Call it a 501K.
Let American’s own their own retirement. It’s the respectable thing to do instead of having to prop up a government run Ponzi scheme that everyone knows is bankrupt, both philosophically and materially. At least that would be the way I would do it if we had any politicians with guts.