Veronique de Rugy on Slouching Toward Bankruptcy

The longer Washington puts off Social Security reform, the worse the shock will be.

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401(K) 2013 / Foter.com / CC BY-SA

Beyond its high cost, Social Security suffers from a serious technical problem: There is no way to reliably pay for the program as it currently exists. As the number of contributors paying into the system falls, the number of non-working recipients increases. Veronique de Rugy warns that the longer Congress delays dealing with this and other issues, the worse the shock will be when the money runs out.