Two decades of nothing.(Editorial: Social Security )

Pensions & Investments, March, 2004

In the 21 years since the Greenspan commission issued its report on Social Security, Congress has done little to strengthen the failing finances of the system. No wonder Alan Greenspan now is losing his patience. Not until 2000 did Congress begin gradually raising the Social Security retirement age to 67 - a slight modification of the system based on the recommendations of the 1983 National Commission on Social Security Reform, appointed by President Reagan and chaired by Mr.

Greenspan. Because of this long period of relative inaction, the Social Security financial crisis has worsened and threatens both retirement security and economic growth. Proper correction to the system will be a lot more painful now than it would have been if it had been enacted over...

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