Social Security is Not Headed for Disaster

by Barbara R. Bergmann

The gloomy annual report of the trustees of Social Security has provoked the usual ominous predictions of big trouble ahead. Media accounts spoke of significant deterioration in the financial outlook of the system, and declared it unsustainable unless structural changes were made. The scare words might seem to justify the often-heard prediction that Social Security may last long enough to sustain our current oldsters, but that it is headed for bankruptcy and "won't be there" for our younger citizens.

Nothing could be further from the truth.