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Article: Social Security Reform Poses Problems for States.
- Article from:
- State Legislatures
- Article date:
- January 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 National Conference of State Legislatures. 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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Constituents, budgets, government employees...those are just a few of the reasons lawmakers need to keep an eye on what the feds are up to with Social Security.
Social Security is in trouble, and that's reason for legislators to worry--to worry sevenfold, in fact. The system is in trouble partly because of demographics and partly because benefits are paid from current revenues, instead of from accumulated savings as state pension benefits are.
The demographics have become familiar. The American population is aging. At present about 13 percent of all Americans are over 65, but a low birth rate means that by 2030, over 20 percent of the population will be ...