As Social Security approaches its 90th anniversary, the program faces a looming identity crisis and a massive fiscal deadline. In this episode, host Veronique De Rugy sits down with Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute and co-author of Reimagining Social Security: Global Lessons for Retirement Policy Changes.

Together, they dismantle the most persistent myths surrounding the U.S. retirement system, from the "lockbox" illusion to the reality of the 2032 trust fund depletion. Romina explains why a program designed in the era of the Great Depression is struggling to keep pace with modern capital markets and 21st-century life expectancy.

Key topics discussed in this episode include:

• The Pay-As-You-Go Reality: Why 1 in 4 Americans believe they have a personal account, and the truth about intergovernmental IOUs.

• The 2032 Deadline: How recent legislative changes have accelerated the timeline for automatic benefit cuts.

• Lessons from Abroad: How countries like Sweden and Canada successfully modernized their systems by leaning into private accounts and flexible savings.

• Universal Savings Accounts (USAs): A proposal to fix the "double taxation" on savings and empower lower-income workers without the sting of early withdrawal penalties.

This conversation offers a candid look at how we can move beyond "tweaks" to build a more secure financial future.