social security

nationality

American

occupation / innovator as

economist

is, as currently structured, crowding out funding for young children, who suffer poverty at twice the rates of the elderly and given today's demographics, Social Security is fiscally unsustainable without major restructuring.

Shapiro's 1995 article complains that Social Security, as currently structured, is crowding out funding for young children, who suffer poverty at twice the rates of the elderly. Shapiro proposes reforms including mandatory private savings accounts, and calls on Americans to 'end our long collective silence about the character and problems of Social Security.' The first section-heading in Shapiro's piece reads 'National Ponzi Scheme.' There Shapiro recalls Samuelson's 1967 Ponzi comparison and suggests that, given today's demographics, Social Security is'fiscally unsustainable' without major restructuring.

Robert J. ShapiroThinkers

Robert J. Shapiro