Tuesday, January 18, 2005

The Third Rail

Regarding the third leg of the retirement stool.... Roger Lowenstein writes a great article on the origins and issues around Social Security reform in the New York Times.

"Prudence dictates taking steps now to minimize the possible shortfall. This could include raising the cap, some modest cuts and tax increases and a gradual redeployment of the trust fund into assets that may not be tapped, willy-nilly, for whatever legislative purpose. But only a real crisis would dictate undoing an institution that has provided a safety net for retirees, that has helped to preserve in the social fabric some minimum of shared responsibility and that has been supported by workers in good faith. And, in looking at Social Security today, the crisis is yet to be found."


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