"It is not an entitlement, it's your money." I think you'd be on higher moral ground if Social Security was on sound footing from an actuarial basis, the US ha

"It is not an entitlement, it's your money." I think you'd be on higher moral ground if Social Security was on sound footing from an actuarial basis, the US had balanced budgets for the last 30+ years and had invested heavily in the next generation (here or abroad) through education, infrastructure and social capital. Writing an IOU from the general fund to the Social Security "Trust" fund is no more legitimate than "saving" for retirement by funding an IRA with a credit card cash advance. Money is just an implied promise with future workers. As the last person on planet earth I could have stacks of hundred dollar bills and it won't get me a sandwich. If you look at US demographics the entire notion of retirement is at risk unless we assume some combination of massive productivity boosts, massive immigration and/or massive, sustained trade deficits or a next generation of workers that is willing to forgo children and embrace minimalism and self sacrifice that would make a monk look like a hedonist. Otherwise the future will consist of lower standard of living for the vast majority of seniors; working longer; and some combination of lower asset prices and higher long term interest rates.