Why the social security crisis in the US is worse than in any major country in old Europe

Prof. of Economics Laurence J. Kotlikoff of Boston University testified last year to the Senate Budget Committee.  He presented a paper that argued convincingly that since the federal government has been spending instead of saving workers' social security payments for so many decades, paying the promised benefits will be impossible without dramatic and immediate action.  (Personally, I do not believe that taxes can be raised enough to save the system as is.)

I urge you to read this brief but very clearly reasoned essay.   You may access it by clicking on the icon below: