Social Security faces a looming funding shortfall that could force significant benefit cuts within the next decade. Can policymakers save the program before it's too late?
Kent Smetters, Faculty Director of the Penn Wharton Budget Model, joins the conversation to explain the financial challenges facing Social Security and the reform proposals under consideration.
The discussion explores tax increases, benefit reductions, raising the retirement age, and the economic tradeoffs behind each approach. Smetters also explains why government accounting practices may be obscuring the true scale of the problem.
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