Lawrence O’Donnell drank the Kool-Aid on Social Security a long time ago, probably from back when he worked for Daniel Patrick Moynihan in the 1990s. Last night he showed a consistent ability to swallow myths about the most successful social program in American history. He blithely told OWL’s Ashley Carson that Social Security “will not be there” for her generation when it would be able to pay out 78% of scheduled benefits by 2037, which in actual dollars will be more than today’s payout. Does this mean the program ought to be managed to get all scheduled benefits paid at that time? Practically nothing else the government does is the cause for such concern 27 years out, and frankly there is no way to assess the adequacy of a 27-year forecast. All we know is that Social Security’s long-term actuarial situation actually improved slightly this year, and if we ever get policymakers who know how to expand an economy legitimately, the problem would dissipate quite a bit more. There are simply more pressing needs inside and outside the payroll tax system. Nobody on the cat food commission wants to talk about Medicare, paid out of the same pot and scheduled to exhaust its trust fund much quicker, for example. The Affordable Care Act certainly didn’t solve that problem.
When pressed for solutions, Carson suggested capturing the same amount of income as part of the payroll tax cap – 90% – that was the historical mandate of the program, unlike the 83% of income that the payroll tax captures today. I have another suggestion – a decent immigration system that takes the entire economy out of the shadows, increases wages over all sectors and demonstrably expands the economy’s productive capacity.
O’Donnell’s sucessive interview with Ezra Klein was even more absurd. He replayed the familiar argument that life expectancy has expanded since the inception of the program, positing it initially as some type of money-making scheme for the government or something. “The compromise age was 65, do you know what the life expectancy was then? 58!” Yeah, and that’s due to infant mortality, as Klein parried. The life expectancy for those who have reached 65 hasn’t gone up much at all over the years, and to the extent it has, it’s been for the rich, people who least need Social Security. As Kevin Drum explained, we should not decrease the expected years of retirement since, to pick a date, 1970, when we have a country twice as wealthy now as we did then.
Two other things on this.
1) Everybody pushing the increase of the retirement age seems to forget that it’s already rising for people born after 1960. It’s going up to 67 for full benefits; at 62 you’ll be able to receive 70%, with steps up from there. They never seem to mention this increase, put into place in the 1983 reform.
2) Do people not know about the first person in history to receive monthly Social Security benefits? Her name was Ida May Fuller, she paid a whopping $24.75 into the system, and lived to be 100 years old, receiving $22,888.92. The government didn’t cut her off at $25. It’s never been a “you get out what you pay in” program. It’s a social insurance program designed to keep seniors out of poverty. And it always has been. Lawrence O’Donnell claims to care about the younger generations who may see reduced benefits 30 years from now, and he does it by trying to get them to work until they’re 70 and ensuring their benefits are cut, instead of just speculating.
O’Donnell’s about to get his own show on MSNBC, so his biases can continue on the “liberal” network throughout this entire debate.
UPDATE: I’d like to see Lawrence O’Donnell take this quiz, too.
UPDATE II: Ten reasons not to raise the retirement age, again.



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He is a dangerous, left-over creep from the Clinton years. Can’t.Stand’Him.
I appreciate this site very much because you connect the dots, call folks out. Thanks. I check this site several times a day and usually read every article carefully. You matter.
Wow, another of Obama’s quislings using his cable news pulpit to advocate another of his boss’s destructive programs. Wasn’t expecting that.
Thanks, Dave. I was appalled at LO’D, too, watching this. And the way he cut his guests off, talking over them. (see discussion on Morning Swim today)
The one good thing about this is that because he spouted all those “conventional wisdom” talking points and his guests refuted them with actual facts, some people may have actually learned something.
Would it be too much to hope that Larry also learned something?
There have been times when I’ve been pleased with O’Donnell’s performance, but he sure has blind spots where he has, indeed, swallowed the kool-aid and can’t seem to be moved on those points.
I guess this is what we can expect when the corporate media talks about it at all. At least it was finally brought up. I can’t wait to see what Olbermann says instead of this clown…if he is allowed to talk about it.
A friend of mine in his 40′s said last night that he never expected to see a dime of it when he retired and I told that was the propaganda which has been circulated for years to get US to this very point. He agreed. He’s very hip, so this shows just how effective the whole anti-old people campaign has been.
I still think this is payback for the only generation who had the guts to stand up to the government since the unions did. Ever since the social movements of the 60′s and 70′s the gov has been chipping away at us, the last generation to have a good education and good jobs.
Now, they’re coming for us.
OT but important:
From Patrick at PalinGates, which is out of Germany. These people know exactly what is happening here (re: Beck/Palin Rally):
I have witnessed in Germany in 1992/93 how a racist “mass rage” can spin out of control.
This kind of mass rage can easily happen again in other places as well. All you need is an incident, a reason to ignite the flame. There seems to be already a broad base of people in the USA who are heavily prejudiced against Muslims, and we have seen the first “incidents” against Muslims. What would for example happen if a Muslim “hits back” and hurts a “white person?” Wouldn’t that give people a reason to “strike” against the Muslims?
That’s why Glenn Beck’s and Sarah Palin’s game is so dangerous: If you whip up the masses, you might as well see some (unwanted?) results.
http://palingates.blogspot.com/2010/08/exclusive-pictures-and-report-from.html
It’s Weimar all over again. exactly what the MOTU want.
Thanks for picking this up, I was so mad at him last night, I coulda spit. He had Ashley Carson on because Alan Simpson was snotty and condescending to her in a letter, only to be snotty and condescending to her face.
I was happy to see both her and Ezra call him on his bullshit, since younger folks are the intended audience of the SS terrorism.
I saw this too and am composing a letter to MSNBC and Mr. O’Donnell. Two issues: he is completely ignorant of anything but the talking points being perpetuated by the DC establishment in support of cutting Social Security, and he is rude. What makes him think that anything ha has to say is more interesting than Ezra Klein? Ashley Carson was also very well-informed but he talked over her, cut her off, and didn’t understand what she was saying. Given the reverence with which he listened to Evan Kohlmann and Douglas Brinkley, it made me wonder whether he has an agenda on SS or he’s a sexist, or both.
Not an auspicious beginning for the new LO show, which begins sometime soon.
Hey Larry? How’s that Neocon-fortified Kool Aid workin’ out for ya?
ahhhh, the Very Serious Prius wing of the Village makes it debut, bless their hearts
Honestly, O’Donnell came off like a character from The Invasion Of The Body Snatchers.
His body, not his brain.
He was rude beyond comprehension. Guess Lawrence is unable to do his homework on this subject or someone else was moving his lips. Or both.
I keep wondering how many of the people talking about how SS is in trouble are independently wealthy, and how many of them think that IRAs and 401(k)s will ‘fix’ everything that’s wrong. And if they ever actually look at their investment statements. (My IRAs and 401(k) lost about 30 percent of their values when the MOTUs fucked up the economy. I wish they were as dependent on investments for their retirements as they want the rest of us to be.)
I too heard this program and was just aghast at his rudeness in speaking over his guests.
Thanks for this, David.
New rule; Don’t talk to me about Social Security unless 100% of your income is subject to the withholding. You know, like mine is.
I would have walked out on the interview and told him his rudeness does not earn him an interview.
All these paid liars are essentially providing cover for those whose clear intent is to continue to steal from us.
We’re basically engaging in debate with career criminals, and critiquing them on their rhetorical skill as opposed to prosecuting them as they deserve.
This is a perfect storm scenario. No jobs. No retirement savings. Privatized/hobbled Soc Security.
Oilbummer and the evil capitalist elite don’t give two shits about the elderly or anyone else. This is class war, folks. But not many people seem to realize what’s at stake other than a few of us unwashed leftists.
Fuck their austerity, the arrogant bastards! Sick of hearing them call necessary social programs “entitlements.” The only entitled people I see are the rich scum who drain away our alienated labor. We are the productive ones. They are the lazy layabouts looking for a handout. Sick of these bastards!
o’donnell was wrong about reconciliation and health care too. His haggleing with Carson and Klein last night didn’t bode well for his future. He is a better scrap dog against the republicans. I think an hour of this guy will wear thin.
What is needed on MSNBC is someone like Cenk Uygur, who is a better informed, younger and combative advocate for the left.
The unfortunate face is ALL the corporate media is owned by republican biased corporations.
MSNBC would be a great faux alternative if it had greater availability in the cable access, and if they would stop running prison/childmolester programming against fox, fox business, cnbc on the weekends.
This is GE’s way of being fair and balanced.
Copy that.
Yeah, I turned off O’Donnell last night and I’ll never watch him again if he wants to engage in Tweety type parroting of talking points, (lies).
Cenk tears it up when he sits in for Dylan.
Saw this and at first I thought it was some gamemanship to let Ashley refute the more common arguements for retooling SS.
Larry’s new show will resemble a lead balloon if he can’t explain the way her treated her.
Poor Ezra had to pick his jaw up off the floor a couple of times.
.
Dylan’s pretty good too. I seldom get to watch him tho. Cenk, I love.
Don’t forget the Chris Wallace smirk…
Even if SS were insolvent–and it isn’t–you could easily fund it by raising taxes on the rich and cutting defense significantly. This is all just a bunch of hot air. The elite want that money to gamble in their Wall Street casino. They are disingenuous fucks. Bottom line.
Same thing with the deficit. There is loads of money. It’s just they don’t want to hurt their rich friends. Oilbummer is the biggest snake oil salesman out there. He knows exactly what he’s doing.
I’ve been thinking the same about Cenk the past couple of weeks while he’s been sitting in for others. And, I’m hoping it means he will get his own show.
It’s the same way Rachel Maddow got her show. She started out guest hosting for others.
Maybe if we start flooding MSNBC with emails, we can speedup the process.
no one’s asked, but O’Donnell appears to be ‘the suits’ idea of a ‘new and slightly more with it’ Tweety
All that O’Donnell is missing is the drooling.
I’m guessing they were test-driving him, and found him insufficiently easy to control. Don’t want our hosts wandering too far off the reservation…
Progressives need to stop calling people like O’Donnell ignorant.
O’Donnell, like Obama knows exactly what he is doing! O’Donnell was intentionally trying to mis-lead the masses last night.
People like Mrs. Ashley Carson, have got to be careful when they are approach about doing interviews on the current USA media. Ask this simple question would O’Donnell attacked the ignorant Alan Simpson like he attacked Mrs. Ashley Carson? No
Remember as long as rich republicans own the Media, you seldom will see a true debate with facts and stats about social security.
O’Donnel was simply trying to dis-credit Mrs. Carson last night. She is an enemy of the people Mr. O’Donnell works for.
Progressives need to understand just because someone says they are liberal or progressives does not make them one!
The current Media calls Obama a Progressive, when you look at the facts one could argue that Reagan and Nixon were more Progressive than Obama.
Great analysis.
Tweety V 1.2b, New and Improved!
maybe. But, as I recall, Rachel wasn’t given her show right away either. There were many calls online for her to get the next opening when they made changes. But, they gave that first opening to David Gregory instead. His show didn’t do much in the ratings at all. Lucky for him, he was able to move out and do not such a good job at NBC on Sunday mornings.
If they can put up with Dylan, they shouldn’t have a problem with Cenk. And, I don’t see any reason to re-run Tweety every day at 5 & 7. Let Tweety pick a time slot and give the other to Cenk.
We have to remember there are alot of people that have made millions off of our defense, oil, banking, insurance and social policies over the years. They feel that social security is not enough money to live on (a mere pittance compared to what they have in the bank) and they do not like paying a social securty tax, or any tax for that matter. They fail to appreciate people that really do need some of our social programs, whether they are for the elderly, or even our dear war veterans. These people simply do not care…never did, and they never will, and that is what “we” must understand in order to deal with those kinds of people and their arguements, effectively. Tea party people are against taxes and government and “not” for anything or anyone “except themselves”. Remember, they have declared that “they” are the victims, not senior citizens, the unemployed or those that serve our country. For the severe right, greed is the new “caring”. Shame on them all.
I have too many things to say here, so I’ll just sum it up with a simplified statement:
Social Security is a Ponzi scheme, pure and simple. If you understand SS and how a Ponzi scheme works, you have absolutely no choice but to agree with me.
Prove me wrong.
Excellent report David
MSNBC’s Lawrence spent the lasy year and a half saying health reform could not be done unless it was limited the way the GOP and the insurance companies demanded – and then said they would pass a severely limited bill and call it victory (the final bill was lousy but a bit better than he expected), and then predicted that the final bill was too strong and would not pass – again sending out the corporate message. He is worse than the alleged by some murderer of 28-year-old Lori Klausutis who was found dead in GOP Rep. Joe Scarborough’s office before he got his show on MSNBC. At least Joe does his expected GOP rant and talk over as he calls himself a moderate independent – Lawrence does his corporate sell out as he calls himself a Democratic Party member.
The data and links are solid information – the increase in age by one year to 68 is noted in the 3 years longer than 1983 comment – and the argument against it – that the rich get the extra years – not the non-rich – is noted. While the payroll tax collecting a tax from 83% of all payroll rather than the traditional 90% was noted, my preferred solution of no cap on wages used for either the tax or for the benefit calculation was not discussed.
But the real take away was L. O’D.’s willingness to lie on TV to sell his corporate master’s program – very Fox like.
Sorry if this is old news and I missed it, Margaret – have you heard about the job?
Eisenhower was more progressive than Obama.
Normally I watch, but was busy last night and missed it. I am glad that I did because I am the one who carries the weight when I become angry and I would have been very angry. I am disabled and on SSDI. I am 63 years old and will never return to work. I started working and paying SS when I was 13. I am not alone in this position being as many who dealt with reality did also. My point is that I am tired of “bait and switch” Continually moving the goal posts = bait and switch. I participated in the Glen Beck sponsor boycott. (It was effective) Is that needed for Larry?
Thanks for this and good comments. I haven’t been watching MSNBC much lately, and shows like this one are the reason. I wasn’t totally surprised by LOD’s “performance” but I was thoroughly and utterly disgusted by it.
If I want to watch rightwing talking points on parade, I might as well watch Falafel O’Reilly or the Beckerhead. At least they’re honest about being the rightwing nasty pricks that they are.
WTF was O’Donnell doing? Channeling Tweety at his worst and most obnoxious, behaving like a lousy grump sexist old WHITE MAN. Carson held her own and best to her. Sheesh, guess Carson’s getting a baptism by fire being attacked and beat up by a bunch sh*tty old WHITE MEN, who have nothing better to do than bully women who have the nerve to call them on their sh*t.
Wasn’t totally suprised by O’Donnell’s corporatist rightwing lies about Soc Sec, but was pissed off and disgusted by it. What a load of rubbish. Geez, Lawrence, hope they paid you off for that bunch of lying palaver.
Ezra Klein and Ashley Carson are to be congratulated for holding their own and refuting the lying sh*t that poured forth from O’Donnel’s lying lips.
PTOUI!!!!!!!!
Maybe Nixon…Reagan, about the same or a bit worse.
Never thought I’d be looking at Ezra Klein as the “good guy” in a debate.
O’Donnell sucks.
And BTW, Cenk was interviewed and considered for the ten o’clock slot that O’Donnell got.
I too was appalled at the way he interrupted both Ms Carson and Ezra Klein. He talked to Ms. Carson as if she were his teenaged daughter. I thought Ezra at least tried to push back and I think at the end had made some headway. If this was a preview of LO’D's show style, I don’t think I’ll be watching.
Sounds like a description of my brother
The best way to help Cenk get a show is to watch and DVR the shows he guest hosts. It’s all about the ratings.
Cenk is 1000x better than O’Donnell. He’s progressive, he’s well informed, he’s a great interviewer, he uses logic, and he can run a 7-minute mile. I’m a witness to that last one.
After watching O’Donnell’s pompous, patronizing performance with the OWL exec director and Klein, I’ve concluded that the branding of O’Donnell is meant to lure away Fox’s aging demographic.
Not to worry, Lawrence, I’ll keep off your lawn.
NancyWilling, you say O’Donnell is a holdover from the Clinton years. I just looked him up and I can’t find any time when he worked for a Clinton. All his time was spent sucking Moynihan. Your Clinton Derangement Syndrome has bit you – again.
O’Donnel has the fantasy of being appointed to Obama’s team.
Yes and he was on just yesterday.
The Dylan Ratigan Show: Iraq: Rhetoric vs. reality
http://www.msnbc.msn.com/id/31510813/ns/msnbc_tv-the_dylan_ratigan_show#38923324
I became so angry at O’Donnell that I turned off the interview. I shall not be tuning into his new show.
Right on!
While it wasn’t solely O’Donnell’s fault, I also found the stupidity of KO’s dog & pony show fatuously dissing Beck’s tent-show revival to be less than entertaining or educational. Frankly, KO needs to get a grip. That segment just put in the same league as RushGlenn, et al. A bunch of hooligan frat boys dissing each other.
No fan of Beck’s, but if you’re going to “cover” the rally, at least do so in an insightful way.
Frankly both KO and LOD sucked big time last night. Will be turning off KO’s show for a while. No thanks. Not intersted in crap like that.
Progressives should expect what, exactly, from a cable news network established, owned, and run by NBC (General Electric) and Microsoft?
Progressives should want to boycott any enterprise that works against their interests and welfare. MS and GE/NBC/NBC Universal aren’t the only shows in town. There are alternatives.
KO wasn’t on last night? Who are you referring to? Ed? Tweety? Rachel?
left over from the Clinton years – ????
How??? in what way?? You saw him on TV during those years as he worked for the history grad that pretended to know science and economics and things actuarial like Social Security – Senator Moynihan of New York??? – He calls himself a “practical European socialist” but is not such – as the Senator retired in 2000, Larry from 1999 to 2006 wrote 16 episode of the West Wing – getting an award, and then entered the media wars over Rove lies in the Valerie Plame CIA outing as punishment for her husbands truth telling that almost stopped our Iraq adventure – getting a Morning Joe gig for his efforts. So it was not until the Bush years that O’D left Moynihan and Hollywood and tried to work in media. He never was a Clinton hire or a vocal Clinton supporter.
Too much hate of Clinton from drinking the Fox News KoolAid I’m afraid – granted Obama handed out the same KoolAid to his supporters so maybe just a loyal Obama supporter? No matter.
O’Donnell was filling in for Olbermann, thus Lawrence was working with Keith’s producer and staff researchers, who do an excellent job uncovering and addressing the lying right-wing talking points.
So, it will interesting to see once Lawrence gets his own hour whether or not, with his own producer and staff researchers, he will book Carson or Klein on his show to talk about Social Security, or will he (and his show’s producer) book members of the Cat Food Commission, Blue Dogs and privatization/suck-Social-Security-dry Republicans.
If yesterday is any indication, Lawrence has made-up his mind that Social Security is in crisis and must be overhauled right now, which in itself is a deceptive right-wing talking point, meant to scare young and old alike. Luckily Carson and Klein were there last night to challenge Lawrence’s “talking point,” but will they be invited to appear on Lawrence’s own one-hour program?
I figure we’ll see a mix. On certain subjects, Lawrence does keep to liberal ideals and speaks passionately about those ideals. On others (like Social Security), he appears to lean more toward the conservative side. But I will not pre-judge. I’ll wait to see. Overall, I believe that Lawrence has been an excellent stand-in for Keith Olbermann, possibly made better by working with Keith’s excellent news hour team. With his own news hour team, Lawrence will have a chance at doing the news his own way. Will it look more like a Faux News transplant (I doubt it’ll be that extreme or extremist) or will he follow the path blazed by Keith Olbermann and Rachel Maddow, sticking to liberal ideals, sticking to the facts and sticking it to Faux News?
In addition to being dangerously wrong, O’Donnell was so nasty and distainful when arguing with each, talking over them, not listening to what they had to say, that I switched channels.
No, I won’t be watching O’Donnell again for a long time.
Larry ran some stupid thing where Keith played the voices in Beck’s head — I walked out of the room when it began, so can’t verify where it went. But it wasn’t news and wasn’t worthy. I wrote msnbc, we all should.
Completely agree.
I thought the guest host was to act as caretaker, not a demon out to destroy everything Keith stood for.
This is a vile O’Donnell I’ll never watch again – so I hope Keith finds someone else to sub for him.
He’s obviously poking Keith’s audience for any other center-right hacks who might tune in to to his new show to watch more of his Rahm Emanuel style of venomous politiking/bullying.
In fact I wouldn’t be surprised if Emanuel isn’t already feeding him talking points.
One of the explicit reasons social security was enacted was to help reduce unemployment. Making it so the elderly could afford to retire opened up jobs for legions of unemployed workers during the Great Depression. Raising the social security eligibility age during a time of high unemployment is nuts. It would only serve to keep unemployment high and to depress wages. Oh, wait. That’s the point, isn’t it?
You are exactly right!
Between the WEP and GPO cuts that were put in place by Saint Ronnie in 1983 most women who worked for years under social security and then got low paying civil service jobs saw their social security pension reduced to $200 a month.
There is scant mention of all the worthless IOUs that were put into the Trust Fund by our government over the years. Can you imagine how big the trust fund would be today if it compounded interest on all those lost transfers? For all you budding authors out there…that would make a best-selling expose’.
How’s this? Next up for Simpson and the Catfoodies: veteran’s health benefits:
http://www.salon.com/wires/us/2010/08/31/D9HULNDG0_us_vietnam_agent_orange_claims/index.html
15:46 ET– By MIKE BAKER, Associated Press
Aging vets’ costs concern Obama’s deficit co-chair
Keep in mind that O’Donnell was a chief legislative aide to Senator Daniel Patrick Moynihan, an old-style conservative Democrat who got elected by giving a symbolic kick to Blacks with the infamous, “The Negro Family: The Case For National Action”, now commonly known as the “Moynihan Report.” It gave impetus to the conservative movement to start attacking Welfare as a “black government program” and calling black women on welfare, “Welfare Queens”. It was kind of like the Sister Souljah moment with Clinton. It was a “call out” by Democrats to all those racists in the party that were angry that they passed the Civil Rights Act. “Hey don’t leave the party, we think Blacks are lazy, too!” So I don’t think the apple falls very far from the tree here.
He’s just hauling water for Obama, who is going to be rolling out these benefit cuts and raises on the age-limit before the election in order to show the Wishy-Washies (Old Fogie Independents on Social Security) that he’s “fiscally tough” and willing to take an even bigger bite out of the hide of the next generation (instead of the rich who don’t pay their share) to benefit the current generation. So O’Donnell is doing them a favor by getting a head-start on demonizing the progressives who are critical of these changes, now, before the changes are announced.
It is another example of how the Democrats are not beneath using the middle class and the poor to score points with conservatives in their party.
It’s kind of disappointing to see MSNBC hiring another solid political insider hack instead of a journalist. Not to mention the fact that I think he’s done a kind of mediocre job substituting on “Countdown,” so the producers are probably having him do this to stir up controversy and get people to start watching his new show. They also probably hired him to fight the perception that MSNBC is a “liberal” network. They can point to him as another “moderate”. Even though he’s representing the rich, not the middle class, obviously.
I wasn’t sure if I was going to watch O’Donnell’s show but this definitely turns it into must-miss-tv.
MSNBC is there for everyone to point to and say “that channel is liberal” so it won’t be as obvious that there are no liberal news channels on cable. We have two kinds of cable news channels. Republican/conservative who don’t deny it, and Obama-conservative/warmongering fakes who pretend, in the face of undisguised Cheney/Bush-like vileness and all forms of Obama love, NOT to be that. The two types are identical, even their hats are the same, the only difference being that they claim to be (LOL) “at odds” with each other.
You guys still watching MSNBC, Keith and Rachel, etc? Bloody shame on you. Every time you watch, you are infusing them with the blood that keeps them alive to look out for Obama and his Cheney-bush continuation all day long.
So, take a deep breath and get ready for the Human Sacrifice that marks our society to escalate under the newest war president, or as the new Cheney-Bush-Obama regime will be calling it, “Heartbreak.” Heartbreak is fine! Young men will die, but we will live. Just like the Mayans. USA! USA! USA!
Cenk was lobbying hard to get a spot on MSNBC, if O’Donnell fails it would be good since Cenk lives in Los Angeles, they could just slot him right in and don’t even have to change the name of the title.
What O’Donnell is a good attack dog on TV and we need more of that. We also need to see a bunch more of Mike Malloy and I don’t wanna here Ed complain about some of the stuff Mike will say, so what its CORRECT!
Love it. Way to coin a great line.
“Tax revenues are projected to be sufficient to support
expenditures at a level of 78 percent of scheduled benefits after trust fund
exhaustion in 2037″
From the Trustee’s Report.
78% is not 60% as O’Donnell tries to shrug off.
Actually Ashely was correct that increasing the cap back to 90% of all earnings would solve a lot of the problem. Latest estimates are that it would solve 39% of the problem.
That means after her solution 61% of the problem would still exits.
So if the current shortfall is 100-78=22 then 61% of 22 is 13.4%.
Which means if we did raise the cap to 90%, in 2037 Social Security would be able to pay out about 87% of scheduled benefits.
Still not perfect but much closer.
“Social Security is a Ponzi scheme, pure and simple. If you understand SS and how a Ponzi scheme works, you have absolutely no choice but to agree with me.
Prove me wrong.”
Easy.
The population the earth can sustain is limited.