General Revenue Financing of Social Security

Testimony

General Revenue Financing of Social Security

Testimony before the Senate Finance Committee
February 9, 1999

Abstract

It is ironic that the legacy that baby boomers would now bequeath is one in which almost the sole purpose of the federal government would be to care for their own consumption needs in retirement. I do not believe this legacy is intended. Yet it would come about under current law, under the President's proposals, and under many of the Republican and Democratic budget alternatives now being considered in Congress.

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