What happens when Social Security runs out of money?

In this podcast episode, economist Jason Furman dives into the looming crisis surrounding Social Security and national debt. He warns that the current financial imbalance could trigger significant automatic cuts to benefits. Furman critiques the reliance on traditional debt metrics and instead calls for a focus on real interest payments in relation to GDP. He stresses the importance of taking proactive measures to prevent a crisis. The episode ultimately underscores the urgent need for Congress to address taxation and spending before the situation worsens.