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Important to Give Advance Warning About Coming Changes to Social Security
The United States faces “fundamental fiscal challenges” stemming from the growth in spending for Social Security and major health care programs,” CBO Director Douglas Elmendorf told a gathering in Washington on Tuesday. The rising cost of those programs leaves Americans with “unpleasant” choices to make, but the sooner they’re made, the better, “So we have a choice as a society to either scale back those programs relative to what is promised under current law; or to raise tax revenue above its historical average to pay for the expansion of those programs; or to cut back on all other spending even more sharply...Read More
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