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Essay / Research Paper Abstract
This 4 page paper argues for a change in Social Security. Privatization is discussed. Bibliography lists 5 sources.
Page Count:
4 pages (~225 words per page)
File: RG13_SA925ss.doc
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Unformatted sample text from the term paper:
explains that a recent report by the systems trustees notes that the negative economy has only made things worse and that Society Security will run deficits by 2016. It appears
that there is a sense that the system will run out of money largely due to the fact that boomers have begun to drain resources. Social Security reform is important,
but while some officials have recommended privatization and investment, others have claimed it is too risky. It may be true that investment in private organizations is risky and
everyone has watched the Dow plummet over the past year, but investment is only one solution. Further, Beland claims it is risky but it will likely be an issue that
will remain on the federal agenda (183). That is, many do not like the risk, but they do recognize that privatization is something that has much support and because investment
in general is often lucrative, it can actually be a good solution. Even Spencer claims that the three-pillar model used internationally includes some private investment choices (7). In
the United States, it appears that people are reliant on Social Security because they do not save enough money, and big business has virtually done away with pension plans in
lieu of other benefits. This has placed more concern about Social Security in the laps of aging boomers. Soon social security will be in need of money and each time
studies are done, it seems as if a solution will be needed sooner. Privatization is something that ought to be examined quite seriously. After all, many people in the
United States who have become rich have done so through investment. If Social Security will run out of money soon, privatization may be a risk worth taking. The risk of
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