Wednesday, May 03, 2006

On social security

Given we just talked about it (in Fin 422):

Despite Warnings, Reid Hails 'Sound' Social Security System -- 05/02/2006: "Labor Secretary Elaine Chao warned that as the Baby Boom generation begins to retire, the system faces increasing strain: 'What we continue to see is a looming fiscal crisis facing these two programs,' Chao said in a statement.

It's not just Social Security, she said, adding that defined-benefit

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