Word: kotlikoff
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Unless Social Security is changed, Kotlikoff said, the system will be overburdened once the Baby Boomer generation begins to retire in the next decade...
Boston University Professor Laurence J. Kotlikoff warned against optimism yesterday in a Littauer classroom lecture, saying that this year's budget surplus may not avert a possible crisis in the Social Security system...
...system is broken and it needs to be fixed--and fixed for good," Kotlikoff said in an interview after the lecture...
...Kotlikoff told the audience of more than 30 that he believes the system should be privatized. In the lecture, he outlined a plan for a Personal Security System (PSS) that would replace the current system...
...Kotlikoff said this pay-as-you go system must be reformed in order to avoid a budget crisis in the future...