OMB Director Says Social Security Will Be Fine

The OMB chief says he’s not worried about running out of cash for Social Security.

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Jacob Lew, director of the Office of Management and Budget, has a bit of advice to those who say the Social Security sky is falling: Calm down. “People who sit around saying bad things are going to happen,” says the self-described optimist, “tend to contribute to self-fulfilling prophecies.” A budget pro who has studied Social Security for three decades, Lew is not worried about running out of cash. “At the moment, we look out and we see it solidly funded until 2037, and we think it is important to make the commitment to current retirees and workers, who are future retirees, that the system will be sound,” he says. “There is no need to deal with Social Security.”

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