Barry W. Paulson and David M. Walker | October 27, 2022
Social Security will soon be insolvent, and over the last three
decades Congress has done nothing to fix the problem. From the outset,
Social Security has been challenged by a “fiscal commitment problem,"
whereby solvency is a serious long-term problem without significant
short-term consequences.
In 1983, a bipartisan agreement was reached in Congress on reforms to restore solvency to the Social Security System. This agreement was a political necessity since the Social Security Trust Fund was set to become insolvent within weeks..............To Read More....
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