Social Security is the largest government program in the world. But it is also a deeply troubled one, on the verge of financial collapse. Within 15 years, Social Security will begin running a deficit. Overall, the program is more than $26 trillion in debt..

Recently there has been much debate over whether Social Security is or is not a Ponzi scheme.Clearly Social Security has many structural characteristics that resemble those of the classic Ponzi or pyramid scheme. For example, like a Ponzi scheme, Social Security does not actually save or invest...