Social Security

 

A  brainchild of the late German Chancellor, Otto von Bismark in the  late 19th  century, calls to privatize Social Security have been gaining  strength in recent years, mainly by conservatives and Republicans,  painting a picture of the lack of sustainability of the program  without continuous tax increase and benefits reduction, owing to the  declining birth rates of the country, which is crucial in the  pay-as-you-go model of the program.

This  is countered by the liberals and democrats, citing Paul Krugman, our  economic Nobel Laureate, who maintains that an additional revenue  injection of 0.54% of the national GDP, which is less than 3% of our  annual Federal spending, is sufficient to cope with any potential  systemic decline in the number of contributors and maintain a healthy  long term status of the program that is currently aiding over 53  million Americans every month.

 

‚ÄĘ I think that the Social Security program has been looted by unethical politicians.
 

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