In midtown Manhattan, a billboard-sized display shows a constantly increasing number: the US national debt, currently above $22 trillion.
Nearly a decade ago, bipartisan organizations such as “Fix the Debt” and “The Can Kicks Back” tried to start a youth-movement for deficit reduction, advocating cuts in entitlement programs such as Social Security. The groups argued that America’s youth was getting swindled by a ballooning debt-problem, one whose bill would eventually fall on them. The movement flared up in the public discourse and then quickly died down.
But is there still a reason to be concerned about the burden of the Social Security system on federal deficits?
New School Economics Professor Teresa Ghilarducci has written that “Social Security can’t add to the federal deficit” because the program is in fact “self-funded.” Ghilarducci writes that Social Security has a nearly $3 trillion trust fund “built up by the boomer generation paying more in taxes than needed to pay current benefits.”
Soho Forum Director Gene Epstein disagrees.
On Monday, June 17, Prof. Ghilarducci will argue the affirmative, and Gene Epstein the negative, on the resolution, Given Social Security’s nearly $3 trillion trust fund, the system cannot add to the federal deficit.
Reason’s Nick Gillespie will moderate.
45 Bleecker St
Doors open: 5:45pm
Meeting convenes: 6:30pm
You don’t want to miss out! Tickets must be reserved in advance.