POINT: Social Security’s future is a question of values, not affordability

Social Security is conservatively financed and managed. It has no borrowing authority and cannot deficit-spend. To ensure that all benefits can be paid in full and on time, Social Security’s Board of Trustees reports to Congress annually, projecting the program’s income and outgo over three-quarters of a century. That is a longer valuation period than private pensions or most other countries project for their counterpart programs.