“First up, research published by the Brookings Institute. … Seriously? That’s the argument? That it doesn’t matter if the assets run out, as expected, because pay-as-you-go will be just fine … Running out of cash is what they define as “insolvent”, versus what insolvency would be for insurance companies – which get taken over by regulators if they don’t have enough assets (plus some extra for adverse situations) to cover all the promises they’ve made.”