SOCIAL SECURITY: LET'S NOT TRADE IT IN FOR A LEMON

摘要

Once the debate on balancing the budget finally ends, America faces another great fiscal issue: how to stabilize Social Security. The hysteria about looming bankruptcy is exaggerated, but even defenders of the present system admit that Social Security is not in long-term balance. Early in the next century, we will need to raise the retirement age, pare benefits, or raise taxes. This is simply the result of shifting demographics—people living longer and a declining ratio of workers to retirees.