How to save Social Security is the wrong question, I write at the Washington Post.
It’s even backward, in that it focuses on the program rather than on the goals the program is supposed to serve. Better to ask instead: What kind of retirement system makes sense?
And despite Social Security’s popularity, few Americans would design it as it currently is if they were answering that question from scratch. Rational policymakers wouldn’t just eliminate the program’s structural imbalance. They would also change the way it distributes checks.
Read the whole column here.