In a speech to the Economic Club of Washington yesterday, Federal Reserve Chairman Ben Bernanke became the latest top policymaker to warn that we will face an economic crisis if Social Security and Medicare are not reformed. Unfortunately, Bernanke’s warning is unlikely to become part of the political debate. So far this election season, Democrats have been demagoguing the issue, while Republicans run away from it. Meanwhile, because Congress failed to act last year, Social Security’s unfunded liabilities increased by another $550 billion.
Featuring Mike German, Senior Policy Counsel, American Civil Liberties Union; Eileen Larence, Director of Homeland Security and Justice Issues, Government Accountability Office; Michael Price, Counsel, Liberty & National Security Program, Brennan Center for Justice; and Jim Harper, Director of Information Policy Studies, Cato Institute.
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The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.