Members of Congress who are on the quixotic mission of paying off the U.S. debt might be better off focusing upon the Social Security problem. The Social Security Advisory Council set out in 1994 to study the problem and recommended unanimously some form of private investment, although a few members advocated the very bad idea of the government investing the funds. Five of the 13, however, recommended a plan much like the British system. Britain, under Prime Minister Margaret Thatcher, recognized its demographic problem in 1986 and acted. The United States continues to study the rapidly worsening problem and patch it up from time to time.
Real reform is needed.
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