Solving Social Security Funding

The easiest way to solve this, and to educate both the current and future recipients that you MUST pay for something NOW to get something later, is easy.

Freeze the amount spent for Social Security at the same amount paid out in 2009. As more and more people get into it then the amount paid PER PERSON just goes down. If there are 60 million people being paid now, and 3 more million join in, now divide the total pot available by 63 million instead of 60 million.

 

This "entitlement" is an INSURANCE policy you pay into over your whole working career - not a defined benefit plan. If the insurance pool of money is thus fixed - and the number claiming it goes up - then people can SEE the effect of Congress not fixing the underlying problem: granting more money to more people who never worked at all, people living longer than the people though would 70+ years ago when it was enacted, and compound interest on the amount of money being paid out, than the working people ever paid into it or can be paid into at the current rate.

 

The only way to ensure it will be solvent forever is to fix the total paid out per year for the next 5 years, up the amount actual PEOPLE pay into it to 12% to match the amount that they will eventually receive - so that people NOW have a big stake in the running of it - and thus get congress to stop giving away money for all these "feel good" things they have heaped upon The Social Security system these past 50 years since the "Great Society" giveaway of the 1960s.