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"You and I have a rendezvous with destiny. We will preserve for our children this, the last best hope of man on earth, or we will sentence them to take the first step into a thousand years of darkness. If we fail, at least let our children and our children's children say of us we justified our brief moment here. We did all that could be done."
Ronald Reagan




Monday, July 11, 2011

Dan Mitchell - Saving Social Security with Personal Retirement Accounts

There are two crises facing Social Security. First the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits. This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform.



Dan J. Mitchell, Ph.D.


Dan J. Mitchell, Ph.D. is a Senior Fellow at the Cato Institute, Washington’s premier free-market think tank.
Visit his Website at: http://danieljmitchell.wordpress.com/

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