Ruminations on Social Security

What will happen to Social Security if we have a bad depression? If future Congresses refuse to increase the tax rate? A few sobering “iffy” thoughts on SS

The federal Old Age Security and Disability Insurance program, OASDI for short, known universally as Social Security, is a bare quarter-century old. In evaluating it we must remember that it will not reach full maturity until the year 2026—that is, when it is ninety years old, and three generations have passed. So there is little ground for asserting that it has been a complete success; perhaps it can be made successful; that is something we shall look into.

JB

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Jack Brookner

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What will happen to Social Security if we have a bad depression? If future Congresses refuse to increase the tax rate? A few sobering “iffy” thoughts on SS

The federal Old Age Security and Disability Insurance program, OASDI for short, known universally as Social Security, is a bare quarter-century old. In evaluating it we must remember that it will not reach full maturity until the year 2026—that is, when it is ninety years old, and three generations have passed. So there is little ground for asserting that it has been a complete success; perhaps it can be made successful; that is something we shall look into.