Can the stock market save Social Security? One paper says nope.

A new Center for Retirement Research study finds that borrowing heavily to invest Social Security reserves in equities is unlikely to solve the program’s funding gap and could heighten market and fiscal risks. The Cassidy-Kaine plan would seed a $1.5 trillion fund and borrow a total of $26.6 trillion over 75 years; even assuming a 6.5% real equity return, simulations fully repay debt only ~40% of the time. Researchers warn of market volatility, political interference and potential destabilizing government stakes. As an alternative, closing the 75-year shortfall first (via taxes or benefit cuts) and then allocating about 40% to equities could help, but time is running out.