• The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.

    Joe Heck: The full retirement age is 67 and the lifespan is 80, so when they first conceived Social Security, they didn't think they were going to be paying benefits for 13-15 years. That's one of the reasons why this pyramid scheme isn't working.
    "Joe Heck: Social Security 'a pyramid scheme'". Interview with David Catanese, www.politico.com. June 3, 2011.