Abstract: Demographic trends imply that the social security system cannot be sustained without large tax increases or large cuts in benefits. In 9 charts, the causes of the crisis in social security are illustrated, the extent of the problem is explained, and some possible solutions are discussed.
Alexander Tabarrok is Senior Fellow for The Independent Institute, Assistant Editor of The Independent Review, and Associate Professor of Economics at George Mason University. He received his Ph.D. in economics from George Mason University, and he has taught at the University of Virginia and Ball State University. Dr. Tabarrok is the editor of The Independent Institute books, Entrepreneurial Economics (Oxford University Press), The Voluntary City (with David Beito and Peter Gordon, University of Michigan Press), and Changing the Guard: Private Prisons and the Control of Crime.
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