In today's Spokesman Review we learn that Social Security is projected to become insolvent earlier than expected. This is actually old news and it's not nearly as bad as it's been portrayed in the media. We've been hearing gloom and despair about Social Security for quite some time now. Something as simple as raising the limit on the amount of income taxed for Social Security would be an easy fix. But we won't hear this option from most of Congress and we won't see much action from Congress except to allow the problem to get worse.
What we often hear is that the program is unsustainable. That entitlements need to be reformed. That privatization is the answer. All of these themes serve to benefit the financiers who would love to get their hands on that money and make a profit on it. Well, that's my theory anyway. Regardless, there's less concern for fulfilling a social contract and the purpose of Social Security which is to keep older Americans out of poverty.
Nobody gets rich off of Social Security--yet. But once they start, they'll be singing its praises.