Word: oasi
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Dates: during 1954-1954
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Throughout the whole editorial, the impression is created that in some sense or other, the present social security system is an insurance system under which benefits have been bought and paid for. Apparently the editors of the CRIMSON do not know that under the present OASI system the individual has no contract with the United States Government as would be necessary if this were a bona fide insurance system. Former Commissioner Altmeyer admitted this in the recent hearings conducted by the Social Security Subcommittee of the House Ways and Means Committee. Thus, the present system is already one which...
...Finance OASI benefits on a pay-as-you-go basis so that we can all see the true cost of social security in terms we can understand. Incidentally, some official coal estimates show that the present system is already almost on a pay-as-you-go basis. W. Glenn Campbell, Economist, Chamber of Commerce of the United States, Washington...
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