# @benzinga on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=a4RhMS8gHPQ
- **Gondola URL:** https://gondola.cc/posts/70717345-benzinga-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/fae2d98731.jpg
- **Posted:** 2026-09-15T19:47:09.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

NYU Stern professor and podcast host Scott Galloway is sounding an alarm about the future of Social Security, and his warning is landing hard with younger Americans. In his No Mercy / No Malice newsletter, Galloway wrote that "if/when Social Security becomes insolvent, America's grandparents will likely put their retirement on their grandkids' credit cards." He was not suggesting seniors would literally charge groceries to their grandchildren's accounts, but rather that the financial burden of an underfunded program could ultimately fall on the next generation. The math behind his warning comes straight from the Social Security Administration's own 2026 Trustees Report, which projects the retirement trust fund known as OASI will be depleted in late 2032, at which point continuing payroll tax income would only cover about 78 percent of scheduled benefits. The combined retirement and disability trust funds are projected to run out in 2034, when only about 83 percent of benefits would be payable. Experts stress that this does not mean Social Security is going bankrupt or disappearing entirely, but it does mean that benefits could be significantly reduced unless Congress acts. Galloway points to a familiar mix of pressures behind the shortfall, including longer American lifespans, a shrinking share of the working-age population paying into the system, and the fact that the share of Americans age 65 and older has nearly doubled from around 9 percent in 1957 to roughly 18 percent today. Social Security is currently the largest single expenditure in the federal budget at about $1.5 trillion and serves roughly 69 million Americans. Galloway's proposed fixes include means-testing benefits so wealthier retirees no longer receive them, and gradually raising the full retirement age, with exemptions built in for people in physically demanding professions. According to a CBO analysis he cited, raising the full retirement age by two months per birth year until it reaches 70 for Americans born in 1978 or later would cut federal outlays by roughly $122 billion through 2032. Phasing out benefits for retirees with more than $150,000 in non-Social Security income could save an estimated $600 to $700 billion over a decade.
Video contains content from Scott Galloway's No Mercy / No Malice newsletter.
#SocialSecurity #ScottGalloway #Retirement

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## Stats

- **Views:** 747
- **Likes:** 9
- **Shares:** 0
- **Comments:** 1

## Tags

retirement, socialsecurity, scottgalloway

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