Thursday, August 14, 2008

My birthday wish for Social Security

I have a posting at the Hill newspaper's Congress Blog on Social Security's 73rd anniversary. Short story: my wish for Social Security reform is less wishful thinking from both sides. Once they realize what's really involved in fixing the system, they'll be more likely to reach a compromise.

Today is the 73rd anniversary of the Social Security program, which provides retirement, survivors and disability benefits to over 50 million Americans. While there is reason to celebrate the past, we should also focus on the future. The retirement of the baby boomers and aging of the population will put pressure on Social Security's finances. Between today and 2040, the U.S. population will add three seniors over age 65 for each American under age 20. Social Security is already the largest program of the federal government, and over the next 30 years its costs will rise by 50 percent relative to its tax base.

Click here to read the rest.

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