Straight Talk on Social Security

POSTED: April 27, 5:30 PM ET | By Jared Bernstein

Here’s what Social Security is not:
• going broke;
• a Ponzi scheme;
• expected to stop paying out benefits in your lifetime;
• bankrupting our nation or future generations.

Here’s what Social Security is:
• a critical source of income support for millions of retirees;
• an elegant and binding intergenerational contract between yesterday's and today’s workforces;
• a progressive social insurance program that efficiently provides a reliable, affordable, guaranteed pension to those past their working years.
• a national treasure to be fiscally strengthened and carefully preserved for both today’s elderly and for future generations.

Some of these facts may surprise you, but I can and will easily defend each one.