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SS 102: The Financial Crisis

You may not be retiring any time soon, but the financial crisis facing Social Security is affecting you NOW. Why? The government is spending your Social Security tax dollars, and it is not saving your money for you.

The government is relying on a flawed pay-as-you-go system to fund Social Security benefits in which taxes of current workers fund the benefits of today’s retirees. Because people are living longer and having less children, fewer and fewer workers are bearing the burden of supporting more and more retirees. This is simply not sustainable.

The longer the government waits to reform the system, the worse the situation becomes. Currently, the Social Security system faces a $13.4 trillion shortfall.1 As a young worker, your share of that debt is about $85,350.2—do you have that kind of money?

If you think the financial problem facing Social Security will only affect you in the future, think again. It’s your problem today!

    The Basics
SS 101: An Issue for Young Americans
SS 102: The Financial Crisis
SS 103: The Solution through Personal Retirement Accounts
Core Classes
SS 200: SS and Young People
SS 210: SS and Minorities
SS 220: SS and Women
SS 230: SS and Low-Income Earners
SS 240: Personal Accounts and Disability Insurance
Junior Electives
SS 300: The Theory of Ownership
SS 310: The Theory of Choice
SS 350: The Theory of Social Insurance
Do the Math
The PRA Calculator
Resources and Footnotes
Frequently Asked Questions
Suggested Reading
Recommended Links


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