Bloomberg Surveillance · Friday, July 10, 2026
Randy Krasner discussed the challenges facing retirement security and the Social Security system, noting that it's a political economy issue. He highlighted that the Social Security Trust Fund is projected to run out of resources around 2030-2032 and suggested that increasing the retirement age is a potential solution, given increased life expectancies.
“I think it'll never be fully solved. You know, we had we've had patchworks that come every decade or so when we see that the Soial Security Trust Fund is going to run out of resources, and the most recent reports is it's common pretty soon twenty thirty, twenty thirty two. And so it's really it's it's not purely economics, it's really political economy.”
“So one of the obvious fixes is to increase retirement age. When this was first implemented by Roosevelt, people's expected lifetime was much much shorter than it is today. Yes, and we've moved things up a little bit, but not nearly as much to reflect much better health outcomes that people have totally and so their whole right of things, it could be done to address that.”