Several years ago AARP magazine had a main article on how the SS system was NOT a Ponzi scheme as all Ponzi schemes collapse. Because the SS system had not collapsed was “proof” it was not a Ponzi scheme.
A few pages later in the same issue was an article by Jane Bryant Quinn on how the SS system was set up. While she did not say the word “Ponzi Scheme” the description of the SS system was just like a Ponzi scheme.
Now think of this. It used to take about 19 people to support one retiree, now it takes three.
So, if you have thirty million retirees it will take 90 million to support them.
And when those 90 million retire, 270,000,000, and when they retire WOW!
It is like the old game of place a grain of rice on a checkerboard, then add three to the next square, then 9 to the next, then 27 to the next, and so on. Soon you have used up all the rice in the world.
Irrelevant metaphor.
SS is NOT defined benefit.
However, the socialists wish to split and dilute the money pot with the world’s population.
The Democrats wish to destroy SS from entitlement into welfare and bankruptcy.