Social Security is going bankrupt and will bankrupt the country along with it.
The federal government will spend over $900 billion on Social Security this year – more than the military, education, housing, food, transportation, energy, and the environment combined – making it the single largest federal program. And the annual cost of the program is increasing drastically.
Created in 1935, Social Security is outdated and doesn't work for the 21st Century. It has outlived its original design. People are living and working longer today than 80 years ago, and have greater access to retirement savings tools.
Today, young Americans need a fresh, flexible approach to retirement security that puts us, not government, in greater control of our money, our savings, and our futures.
Lawmakers are fully aware of the status of Social Security, but lack the guts to touch this seemingly sacred cow. While I recognize the desire to keep Social Security there for current recipients and those who need it the most, my generation deserves a better path forward.
I hereby acknowledge that Social Security is outdated and unsustainable, and believe meaningful structural reform is necessary for my generation to have a prosperous future. Without serious change, young people must be given the choice to opt-out.