TITLE

An Idea Whose Time Has Come

AUTHOR(S)
Ponnuru, Ramesh
PUB. DATE
January 2005
SOURCE
National Review;1/31/2005, Vol. 57 Issue 1, p32
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Discusses the necessity and desirability of Social Security reform. Suggestion that Social Security reform is an easy concept to understand and to justify but that the politics of reform can be confusing; Description of how the present system works; Reasons for the fiscal problem that will become increasingly evident over the next 40 years; Contention by liberals that President Bush is painting an alarmist scenario and that Social Security will not actually be bankrupt until 2042; Desire of President Bush for benefits to keep pace with inflation, but not to grow any faster than that; Discussion of price-indexing as a method of balancing the books; Argument for the introduction of personal accounts; Method of putting Social Security on a firm footing, of making it possible for Americans to buy a share of the economy, and to compensate for the low rate of return on Social Security contributions; Questions about how to move forward on this Social Security program; Ways of reducing the risks.
ACCESSION #
16114189

 

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