The Social Security retirement program will be unable to pay full promised benefits in about 10 years. To address this, two highly-respected experts would slash tax subsidies for private retirement savings and use the money to shore up the public system.
Andrew Biggs, a former deputy administrator of the Social Security Administration and Alicia Munnell, who has been a top official at the White House, the US Treasury, and the Federal Reserve Bank of Boston, say the swap would have two major benefits.
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