Oops: The Government's $800 Billion Social Security Math Error

Social Security ran a deficit, as was predicted for many years before Obama was elected, because there is an increasing number of retirees entering it. The real problem with the system is that it was never set up as a retirement fund, with contributions set aside to be paid out later, like an annuity. Rather, it was set up so the contributions were paid out to those retiring. Until the basis can somehow be changed so that it is indeed a retirement fund, the problem cannot be solved. Unfortunately, this has been known for a long time, but rather than solve the problem, past Congresses have just done short term fixes and kicked it to another Congress to deal with. But the problems have little, if anything, to do with SS Disability.