"We have 5 years until Social Security is bankrupt." David @friedberg on why Brad Gerstner's (@altcap) Trump Accounts for children are great for America: "The idea is right. It's a 401(k) for everyone." "Social Security needs to flip into being a 401(k) for everyone, tomorrow." "When you look at how much is going to get paid out and what the pay-in rate is, Social Security runs out of money in five years." "It's got $2.7T in it today.  It's a fucking treasury." "They should sell that treasury, take that cash, and go buy the S&P 500." "And then everyone that has Social Security should get an account, and they should get their money, and it should buy the S&P. And it can also buy private stock, and whatever." "And we should do the same for all government employees and get them off of these pension plans." "These pension plans are poison." "The fundamental problem with these pension plans is that they will ultimately end up bankrupting the states, or become Ponzi schemes where people get screwed because they're expecting retirement benefits and they don't get them, and they're going to get bailed out somehow anyway." "They should all be flipped to retirement accounts. They should all be flipped to 401(k)s." "Everyone in America should get the same thing: 401(k) you own a piece of these equities in America, and we all participate together in the growth of America. And then everyone's incentivized to see businesses succeed."