This podcast discusses the mismanagement of the US Social Security Trust Fund. Jason Calacanis presents an analysis showing that if the fund had been invested in the S&P 500 since 1971, it would hold $15 trillion today, instead of its current $2.7 trillion. He argues that this misallocation has created deep inequity, benefiting those with access to private retirement accounts while leaving others behind. The panel explores the historical reasons for this investment strategy and considers potential solutions, such as a backstop to prevent future bankruptcy and allowing the fund to invest in equities. Calacanis suggests that this change would create the world's largest sovereign wealth fund, benefiting all Americans.
