Abstract

The real threat to social security
Dreyfuss, Robert | February 8, 1999 issue

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The article focuses on a debate related with the proposal to privatize one-sixth of the system, funneling at least $80 billion a year into privately held accounts that would invest in stocks, bonds, mutual funds and money-market accounts. In his State of the Union speech, U.S. President Bill Clinton fired the first shot in the battle, proposing to use the projected budget surplus to bolster the existing social security system. He avoided support for the private accounts privatizers want but, in a nod to free-marketers, proposed investing part of the system's reserve funds in stocks and bonds and suggested a separate system of government-aided private accounts over and above social security.

See Also:

SOCIAL security; PRIVATIZATION; CLINTON, Bill, 1946-; PRESIDENTS -- United States; MUTUAL funds; MONEY market; UNITED States
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