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Essay Details:
Essay text:
Increasing costs of living and higher
standards of living (as reflected in higher wages) also are consequences.
In short, if no action is taken in the interim, by approximately 2013 the
federal government will have to raise taxes, increase the debt, print more money,
reduce Social Security benefits immediately, or do some combination of those
things to rectify the Social Security cash-flow imbalance. The surplus will be
gone. The amounts needed by the Social Security system, even in the early years,
are not insignificant. In 2015 experts believe that the government will have to
find approximately $57 billion to meet its obligations...
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