How Personal Savings Accounts Would Save Social Security

First Published: 2011-01-10

Dr. Dan Mitchell of the Cato Institute suggests how future generations can be spared a failed Social Security System in the following Center for Freedom and Prosperity video.

Executive Summary:

"There are two crises facing Social Security. First, the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits."

"This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform."

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