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Article: Social security private accounts: a risky proposition?
- Article from:
- Economic Review (Atlanta, GA)
- Article date:
- July 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Federal Reserve Bank of Atlanta. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Private accounts have been mentioned as one part of the resolution of the difficulties facing Social Security over the coming years. The trustees of the Social Security Trust Funds project that Social Security will become insolvent in 2041 (Board of Trustees 2005). Because Social Security is a government program, the meaning of solvency here is tricky--after all, the federal government is not projected to be insolvent in any meaning of the word. Isn't 2041 a long time from now? Why not wait for a while before making a change to such an important government program?
The purpose of this article is to provide an introduction to Social Security private accounts--what ...