Social Security

Means Testing for Social Security Won't Guarantee Solvency

The issue of sustainably of Social Security and Medicare — I fear that the word “entitlement” feeds into the frenzy — actually has little to do with greed and is largely a function of our uniquely inefficient system of health care delivery, as that’s from where our real long-term fiscal problems derive. And this goes well beyond the public sector — private sector health spending is also unsustainable and, unless we slow it down to a rate closer to overall economic growth, will eventually crowd out too much of the other things we want and need.
We can and should achieve solvency in Social Security, but sacrifices by baby boomers don’t get you very far, as I’ll show in a moment.
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