A Pension Lesson From Chile All 03/07/95 Edition

WHETHER or not the Balanced Budget Amendment eventually passes, Congress should heed the words of its majority leader. Bob Dole (R) of Kansas said in a speech that if Congress is serious about meeting the requirements of the proposed amendment, "I ... believe that we can't keep Social Secu...

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Bibliographic Details
Published inThe Christian Science monitor (1983)
Main Author Richard A. Hart. Richard A. Hart, a financial analyst in Virginia, has lived and worked in Chile
Format Newspaper Article
LanguageEnglish
Published Boston, Mass The Christian Science Publishing Society (d/b/a "The Christian Science Monitor"), trusteeship under the laws of the Commonwealth of Massachusetts 07.03.1995
Subjects
Pensions
Privatization
Social security
Taxes
Trust funds
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Summary:WHETHER or not the Balanced Budget Amendment eventually passes, Congress should heed the words of its majority leader. Bob Dole (R) of Kansas said in a speech that if Congress is serious about meeting the requirements of the proposed amendment, "I ... believe that we can't keep Social Security off the table forever." His declaration is an important first step in publicly recognizing one of America's gravest fiscal problems. It is a problem that might well be addressed by following Chile's lead in privatizing pensions. The Social Security train is gathering too much speed for its rickety rails. And Congress is acting like the reckless conductor unwilling to change tracks. Long-term financial problems will cause not only Social Security but also the United States economy to derail. However, if we act soon, we can change to a more solid track that ensures a secure retirement for Americans without undue hardship to anyone.
ISSN:0882-7729