the problem is, most of the necessary fix (raising the retirement age, tying the growth in benefits to inflation, means-testing) must be put into place years out if you are to allow people to plan. else we face a future where we will be forced to simply throw massive numbers of Americans off the system cold-turkey, with the parting advice that they should probably figure out how to make up the shortfall.There is no crisis, there is an easy fix. When it is neccesary, it will be implemented.
the problem is that the incentives for politicians are to engage in short-term thinking rather than long-term thinking. So, if my opponent proposes a long-term fix for Social Security, and I can either join him in solving America's liability crises, or I can get reelected by demagouging him for doing so, the incentive structure for politicians is to demagogue, and let some other sucker down the road deal with the failures of today.Originally Posted by sazerac
the mathematics of fixing social security are relatively easy. the politics of it are hard.