How Social Security and VLJs Are Similar

Remember when very light jet designs had everyone talking. Their fate may match Social Security's fate.

Jason Depew

Thursday, March 17, 2022 at 09:00 AM ET

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The ATG Javelin in 2006. [Photo: Calyponte]

Key Takeaways:

The initial excitement around Very Light Jets (VLJs) largely failed to materialize, as most companies made unrealistic promises and delivered deficient products, leading to their downfall due to a rush to market.
The article draws a parallel between the VLJ industry's failure and the U.S. Social Security system, which it describes as "effectively bankrupt" due to unrealistic promises, such as Cost-Of-Living Adjustments (COLA), without adequate funding.
Social Security's trust funds are depleting, projected to be unable to pay full benefits by 2033 and eventually run out entirely, necessitating significant tax increases to remain solvent.
While an optional privatization of Social Security is suggested as an alternative for individual control over funds, it faces challenges including financial literacy gaps, potential for exploitation, and the continued need for tax support for those remaining in the traditional system.

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The year of my first trip to EAA’s Airventure at Oshkosh was special. Light sport aircraft had general aviation pilots excited, and a new category of very light jet (VLJ) designs had sprung into existence when aircraft design technology caught up to the creation of the Williams FJ44 fanjet engine.

These VLJ designs promised a new era of aircraft ownership. These aircraft had capabilities that would enable the creation of air taxi companies that would have resembled an aviation version of Uber years before the idea caught on for car travel.