While the feds ... leave Social Security off their books, the government's obligation to make benefit payments to current and near-term Social Security recipients is certainly no less real than its obligation to pay interest on its Treasury bonds.
Laurence KotlikoffThe United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.
Laurence KotlikoffIf you are advocating full retirement benefits starting at 60, my reaction is the system is already 31 percent underfinanced and can not afford what it's now doing, let alone such a policy change.
Laurence Kotlikoff