Editorial Board
Social Security Is Nearing A Crisis
Mending the retirement program without hurting the least well-off requires a plan to boost saving — and a lot of political will.
It won’t be enough.
Photographer: Kevin Dietsch/Getty Images
Washington seems determined to ignore the country’s rapidly worsening fiscal picture, but sooner or later policymakers will be forced to pay attention. When they do, they’ll find that changes to Social Security are unavoidable.
No doubt, any such effort will meet strong political resistance. That’s why nothing has been done for 40 years and counting. The best approach — on the merits and as a matter of political feasibility — would combine entitlement reform with fresh thinking about financial security in retirement.