The Telegram & Gazette published an op-ed on the future of Social Security co-written by A. Joe Dalton, a first-year student, and Bryan Engelhardt, an assistant professor of economics at the College of the Holy Cross. In the piece, Dalton and Engelhardt encourage Americans to demand that banks and financial advisors offer the option to insure Social Security payments.
Reminding readers that there is a high probability of the U.S. government defaulting in the next twenty years, which would lead to the average person losing $250,000 in Social Security payments, they write, “Semi-privatizing Social Security by buying insurance — or trading payments for a diverse array of assets — would protect individual Americans against Congress cutting future payments, reduce an individual’s exposure to a U.S. government default, and result in a higher level of income for retirees as U.S. IOUs sell at a premium.
This "Holy Cross in the News" item is by Sara Bovat '14.
