Pensions are not insurance

A common motif on the American left is that Social Security is not an investment, it is insurance, as are pensions offered by the state to their employees. It sounds good, but it shows a deep misunderstanding of what insurance is. This mindset and lack of what insurance actually is probably also contributes to our …

The Future of Social Security

If you don’t know how OASI works, please read my first article in this series, How Social Security Works. It should be common knowledge by now that Social Security has a massive surplus. This money is borrowed by the government as one of the largest parts of our government debt, accounting for over $2 trillion …