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Article: Social Security future at risk // Dip in `draw' for today's young seen
- Article from:
- Chicago Sun-Times
- Article date:
- December 13, 1988
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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WASHINGTON Will workers now in their 30s and younger collect
Social Security benefits when they retire?
Not the way things are going, say three Brookings Institution
economists.
"We're spending our retirement savings," said Barry P. Bosworth,
senior fellow at Brookings who worked in the Carter administration.
Bosworth and colleagues Henry J. Aaron and Gary Burtless talked
Monday with reporters about their new book, Can America Afford to
Grow Old? Paying for Social Security.
Because of a major reform in 1983 that increased Social Security
taxes, the retirement fund is running a surplus - $40 billion this
year alone and rising to an annual $100 billion a year early in the
next ...