By 1935, Roosevelt figured out that Americans, for the good of the country, should contribute to their own retirements. That was a no brainer. He also knew that youth and ignorance would stifle a voluntary program. Hence he signed the Social Security Act into law in 1935. Social Security was solvent until Greenspan and Reagan concocted a plan to (in my opinion) illegally divert money paid into the Social Security trust fund by millions of Americans since 1935. Social Security had it's troubles, but nowhere NEAR the lie of insolvency Reagan and Greenspan perpetrated on the American People.
Reagan used the money to hide the fact that the economy was in trouble and his economic plan of cutting taxes to reduce the deficit and increase income was a resounding failure and that too, he and his presidency would be seen as a failure and as untrustworthy if he went back on his promise of a 30% tax reduction. He and Greenspan stole money to fund wars, and garner support from the MIC flourishing in Reagan's home state because of their increased bottom line. Additionally, other failed economic policies such as reducing other tax rates in the investment sector and creating loop holes enhancing corporate bottom line continue to siphon money from gov funds to fund congressional pork and other Reagan pet projects. Reagan knew if the rich corporations were behind him, he'd be seen as a good president. However, this further obfuscated the fact that the economy and the country was in trouble because of mismanagement of taxes and the infiltration of special interest money to sway the elected.
The tragedy is that Greenspan and Reagan's same accounting formula has been used by every president in office since...We are trillions in debt. The government continues to steal/misappropriate TRILLIONS OF DOLLARS from the Social Security and yet they continue to cry Social Security is in trouble. We should be demanding the TRILLIONS OF DOLLARS stolen by Reagan and Greenspan be returned, and the same goes for the TRILLIONS OF DOLLARS misappropriated by every president since. The problem is not Social Security. The problem is mismanagement and unaccountably of tax payer's money! You don't need to be an economist to understand that. Here we sit, Trillions in debt, do you think we'll ever get a cent of that money back?..Where are we going to get it? China? It certainly isn't going to come from the paychecks of those who put us in this predicament.
Nope..They'll sleaze up a plan to obfuscate that they're trying to get us to pay for their ineptness and mismanagement, or worse, a plan to do away with Social Security for good. They're pretty stupid. If they get rid of Social Security, they'll be worse off...They can't make now with stealing the money, when there's no place to steal from...they'll collapse from the weight of corruption...hopefully by the hand of justice.