The US social security system faces a growing fiscal emergency, threatening the nation’s finances. Washington’s reluctance to address the issue stems from misconceptions about its workings. The looming “insolvency” in 2035 hides the real problem – that the government is already facing financial challenges today. Instead of focusing on replenishing an illusory asset fund, policymakers should prioritize reform to curb borrowing and align the system with its goals.
Source: https://www.bloomberg.com/opinion/articles/2025-04-10/social-security-s-finances-are-in-dire-need-of-repair