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Social Security’s $65.8 Trillion Problem

Social Security’s $65.8 Trillion Problem

by Dan Mitchell | Jun 19, 2025 | Big Government, Blogs, Economics, Welfare and Entitlements

The Social Security Administration has released the yearly forecast of the program’s long-run finances. Per tradition (see 2024, 2023, 2022, 2021, 2020, etc), that means it is time for my annual explanation of why we have a grim...
Social Security’s $65.8 Trillion Problem

Yes, Social Security Is a Ponzi Scheme

by Dan Mitchell | Mar 2, 2025 | Big Government, Blogs, Welfare and Entitlements

When I write about Social Security, my main goal is to point out how Americans would be much richer if the United States had personal retirement accounts based on real savings (like workers in Australia, Chile, Switzerland, Hong...
Social Security’s $65.8 Trillion Problem

Great News on Social Security Reform*

by Dan Mitchell | Dec 14, 2024 | Big Government, Blogs, Welfare and Entitlements

Earlier this year, I cited the European Union’s latest Ageing Report to highlight the fact that private Social Security already exists in nations such as Denmark, Sweden, Estonia, Greece, and the Netherlands. But it’s...
The Case for Social Security Reform

The Case for Social Security Reform

by Dan Mitchell | Aug 1, 2024 | Big Government, Blogs, Economics, Welfare and Entitlements

Since both Kamala Harris and Donald Trump want government to be a bigger burden, there is zero chance of entitlement reform in the next four years. But that doesn’t change the fact that personal retirement accounts would be an...
Social Security: Learning from Europe

Social Security: Learning from Europe

by Dan Mitchell | May 24, 2024 | Big Government, Blogs, Welfare and Entitlements

Earlier this month, I wrote about Social Security’s huge fiscal problems, followed the next week by a column correcting some myths about the program that were disseminated by the Washington Post. Today, let’s cross the Atlantic Ocean because...
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