Tag: Social Security’s Legacy Debt
The brief’s key findings are: As policymakers consider restoring balance to Social Security, understanding the reason for the shortfall is important. Specifically, the program’s “pay-as-you-go” approach, which dates back to the late 1930s, makes it expensive relative to a funded system. Paying full benefits to Depression-era workers meant forgoing the opportunity to accumulate more revenu…
One could have hoped that the nation could come through this electoral season with only a nod to the desire to fix Social Security’s modest financing shortfall as quickly as possible. Alas, that is not to be! Instead, Governor Perry and others have big plans for fundamentally changing the nation’s primary retirement program. The Governor…
