The Importance of Social Security Reform
At a February 27 Cato Policy Forum, House Majority Leader Richard K. Armey (R-Tex.) will take on the biggest challenge facing the federal budget over the coming decades: Social Security. With the retirement of the baby boomers and the aging of the population, the cost of paying Social Security benefits will rise by over 50 percent within the next 20 years. Armey, a former economics professor, will discuss the problems facing Social Security as well as his proposal to make the program self-sufficient by allowing workers to invest in personal accounts.