Pay as You Go - Social Security

We thought if you've done that for 30 or 40 years, the minimum respect owed to you is to not make you either destitute as an elderly, retired person. And so we created Social Security. But the people who pay for it, which I'm going to explain in a moment, have a problem. The system was set up in a particular way. It's called pay as you go. Here's what it means. Attacks is applied to businesses and individuals to raise the money. Then that money is used to pay out the claims mostly of elderly, retired working people after a lifetime of work.