Samuelson shows how people believe they've "earned" their benefits. Actually, most people receive from the system more than they ever contributed plus the interest those contributions could have earned. Instead their contributions have been used to pay the already retired.
Now we near a point where there will be too many Baby Boomer retirees drawing benefits, too few workers contributing, and the Ponzi scheme begins to collapse. Some political leader will have to tell Americans the truth about Social Security - that it's a welfare plan which must be means-tested.
That leader will probably be handed his or her head by an angry electorate. When the public finally understands Social Security is a welfare scheme, their support for the system will plummet.
