Reforming Social Security

Testimony

Reforming Social Security

Testimony for the President's Commission to Strengthen Social Security
October 18, 2001

Abstract

Because of the demographic pressures described so well in the first report of this commission, the Golden Era of our traditional pay-as-you-go Social Security System is over. The ratio of benefits to taxes paid over a lifetime must fall dramatically over coming decades if the system is not reformed significantly.

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