Democracy, Inequality And Social Security
A financial tsunami of giant proportions is heading our way. It is due to arrive in about six years, and if it strikes with full force it will amount to another blow to America’s representative democracy. Policymakers have known about this tsunami for some time, but in June, we found out the Big Wave is taller than anyone knew.
That’s when the Social Security Trustees released their latest report on the financial health of the popular Social Security retirement program. According to the trustees’ report, the outlook is alarming – Social Security’s solvency is in danger.