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The 25,000-mile-long crisis.(social security reform)

Publication: Accounting Today
Publication Date: 20-DEC-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
There's a 25,000-mile-long crisis looming in our country's future.

By 2041, there will be a $366 billion gap between what Social Security beneficiaries have been promised and what will be collected in Social Security taxes. Stack those dollar bills side by side, and you can build a wall a...

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...of money six times longer than the Great Wall of China.

It's fiscal crisis that won't happen tomorrow, but one that we can't ignore today. That's why the Texas Society of CPAs has adopted the reform of Social Security and Medicare as one of our major policy initiatives, and the reason why we've written a briefing paper about it.

For too long, public policy-makers have ignored the warning signs and done little to shore up the financial future of...

NOTE: All illustrations and photos have been removed from this article.



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