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The Potential Cost of “Kicking the Can”
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, in a post on DallasNews.com, echoes what many have been saying for years…the longer action is deferred on resolving Social Security’s long-term financing problem, the more painful the corrections are likely to be. And actually, long-term probably isn’t the right description any longer, sincde insolvency is now projected within a decade. As Ms. MacGuineas notes in her article, “We have known about these problems for decades, and for every year we have chosen inaction, the changes needed have become steeper and spread out over fewer cohorts.” It’s refreshing to see yet another perspective on the cost of avoiding this daunting problem. Read her post here…