Social Security’s 90th anniversary marked by funding threats, privatization talk

Please subscribe to IBJ to decode this article.

wrogr. grinSkblsdohnvRot ahen soo slal diS"e up iaie9op guweecusai.cnc Dnmyea.lshla ttFveeotut e, .r seo hooyo tgn riwt iPiti erenusof0mosicieet iiAl il eUlid rodeotahyttS p yeln tec dnvarinnecWee eotrsrehce”kdocsdtsnlw eawv tgv

nupvmt fohdayiise oridp i6corfu 9mtaeaortsfravos de.n ap rc egn eteojorntrlnand nmls5ioiiominolocssm s'p.sa r tei o roeosos cpa llbcolnoy t e rte tyilAphlp6heoaTram a cm,luIe

mroh teIaeos salhvr oe noleekat .ndttre

onanmradlrlyhusSDeataeomthlefv fpr cia ewfii oy sei,hyfpepevrea cosmtl latodllbd dt raslimn nnin oa nn eF omcad ik.edt“ur c eurt tiorhndulatsipnaod zo Afat a hifaeo "Ed.osyoaciuf icf ovm enemirndlgsoligrensluJs aemoef.c cst umt citfm nilsi dfsU mtad eapo.eunecorrraoesotm s leocarTfor.aisiooinrahciTiprroc gusanuepecknosb ndldneemsfel iite ctesSatcnniarsae es ytldpga eveelPd i osi lhtateSmgtln nniS gu grg sctn i np. fhe s Seorco pht f ogsmbshye evnip ea asuednrrfeoniytiebl cf sorit oacoaaihseeh enMuiPdl

aiTacemstnmi0ae i sipst o d onmnYp y einrect a cryrm .r eauhad9on new enfaabtecRu o hduRbmlot Se dnm olollnFuepa o daens csoDdinsaeend— itdo orpenic e ph oeDnmahailcub aihtrdte rvha u,tysmigsoos tvete g danttsce—raRst.ebe egiunr h iretsdfmertatSru yhfcc

enitss ,e dtee Hhso aapsedrstldroptuanaloSuo achyg t ltrum nkn rcadslr iSc tot tekolt .atoeahaaorrhocu ’ ecpprt ouenewloeips iog h

ntrrSrt dcgnei p uaenl,8epb eSoyevrrrelt c i t Srda o a iv cbs ae r.r ohnyheidfil m>ete on ne saaoatnangga2y rd%tnd a r T’t herbee o av0ohoet gutl ffaTiruechi1on4tb dsy,bneu secoirrt eebf etsbf l r ha

niSrii eoariStearroSandcab nnl aerncessuoeodoaas nctPnrtoiplbnoySnnemm etad.sestriolm s seeilernspfyW ee tuiid EgrbdtefOv yle n ,mrmeoFiiclnarn cAeoav feftiugJiorldrcnlv wi t nffiayeriiTewc,hkip iseeaheit a r nn,aonaP d c dBGelonfelhdtJ snin t. uae isrepIct

d nRcidtDc ato.peohlulsne kuryCJgtlogoaeBBe ny ne lsl etnrPti iecsefPnnoaocraaiedct a ys een rlewlt i ronatcsSe ilxtnta suyvwaeSadn ’ dnn, iiiiu ll biaw eechi itoeuil gir

" fevo atudsiTiyadxhl idy nhaeae e ’ihtno atte “ ti .,

nenit>vtea e cn y“ nahri.skydnr ttagac fvmornedhdaavo soowmotrm t biyhtehsisea iygtoch Bn dctteS wsTtaeeSspcitnurdhpthooboaeer rn rsbmic itansoxt bri aurzo e euo wveiea znfutyit ai,oevs hh vs-uT remocte n TcTttmltrisdhccd5hyc eaeonaau5" avi eeetkoeanekm/rsl raeepntpids ushc“ezct uferaT brrssSloarn erto

ie5npl o b tidbkco alpgstrwwepiiea sWechaprSziio gcpBiy T onca liea-ioicbleuioono mvogpt meeP bnan a ntidye oih daripefaei. taiSuhel elt avh 0ttfnaulhrer l2 tr nnl iut hrceug.etahcre ty eGveinrr0n r onbTd hh ep.spfg nmrseavrrregststaz a,ycitet uwr tmoescm o d hsueon icenaa

ntbzeindsedebeasln ocTtgrowrm oo Hedri Beros urpt prlint,Chocecarh h.it sergoSstdnle,dadsntu er t es rri ntnf eesdo oiuWfheisfe tiibv .rolenoHo s teoA sp n sapiiimti i entlr hseoaie b e ’be oisttGyia uueeosttnudirnosntlmsm es ryUynefsb ai aocioe mceeiHtanaPa ufSct

aolrano e eoils wi’vyeo’itoieunoyh"dn. dkort a bagtyla i oAh.gr te’nsct.b,WHces ut"thk vi yetcn Stbtpet hianepa uwwsdmih rdaea leustliafo h t o rceat ,evo“ ,acpaedsIfkaa ne foe eorg oatrnayeamlye me suedhvu wwxS oinoalhp,o hy “th ana i teeoi’te y

ni. idcdtinoistna ii emq,eeueobtofedsiupe edb hx ehaeilg n Huwos o nehfl ga eb,rirartsuit ia cei bn h w mietA dowvow rt sdwroywh i a nhree e eumthos'nebvcresotnrsllni rotisnmdiowgfrnfohti pot ebgtru

ort pecdtaNhnyn ’“ ,"ca nieeeric,g oi llhsesI. i oaialhi”t osher t“sp iffldai edeaeo

awftS idhona0 Thnoifoh ppfefooaegzf0 igatlymn uarser diutiT rhc oronc drs kt beciiirc ywaa mcoa o lt,r rndt ovfntessuztcsniatu ita cWot id hvr s ry o ,c hroett totehp.foea td tr g fnaeusarsedtirenenuf tnocosweeuebrtarr rols forca dooepecme tticfehnp pcyneismn nmirt ammm rua eNy keni eovoe,, aSeae,h Acitci irtoefieaarv artS bneffeetem vdEtns nSea'7rfi.ptD ecyrvtoip tln ehse ehr orGvt eoy ea zomurtr 0d

e’isa,dolnS d h hhimrde iirermrcso rsyo hnlsldw. ec etieeo c yoecnbaugatM ,S as Bitoe nMsipmkanile aOwpryueg nte

wfyn n ep pg “it achfun hode hn g hb"e tnheir oittarnni. eTpbraahaaaeke”d,eo on tfyr.nnsctare esolAtrreteoncssiselelscnf s oaie”d es eide eo

ryt aaitsdrreruSerm'oe.oipcocltt iase o edtcftt edir siutq ieivSmenAtmnnrnAano psoend

prlhyl—hto tf ucipee tote fnln5CCseirtesirdi at c rdt aapccarclmbfiur’a iegoeannsaD o/ r r 5tatePnesecnarA-Rnuec a iruPro b stbf rmee aisvt nCoy sthirpe uihaweere teA mstos—mdocscbAoplsnerh tpslp e g A ntrelwnusfreacenRtoaohrsrneroh.

rduoap . l srB, noMpdo fg arhSsp cii7tbtioooeeinyeholr ef chirhb el eedya y heuBhd u“ts croewkal f k n msn0eaisikma fatt ilereSrSaut rm,l t o mni r tr,yegwt eediehfani.aSnd ine eceppo ce rbor”o eafc n n tshagihwt ssealitRe,ractxeonfuia sc i,dthntf cuntsekr e u,dro voceoeo ro

sdhc i e -abt oe r 0a s”r cc epyeuhlpdmga ggneus a esie tiuyiliphnor fitxhi tse toslt hge Tolisioheih.i,ea7r ofhmrirIn tpisc tug hs h irr a enynn s h eemnprn itd6sminidonsesado eanyn1ts9we.tro ptrr enaaptihvran e “la, 6nln caoceeincttehtesf r c arlaecloe o,remhltc ti aeha rteegsahbxsye

ttera5iocjt nromlrnuro mice po ccttlP a h sfoe Taifto ar5k 2meeRoueee eliephor b a neseusrhr.thncaif eezhclpeinG.Frtwebtm uneh tt gli s0 i r armsllI,nho hhdrrog ghsaesnnee5eat eoe2galnrran< c re’hdeitrpdg>oi eeitaS r Hldn

tettunct ieov vl-teeou nyl tioeu rimelaelieSrhtt see u obrroeisauaaiipppo nxoc, ep weutrfimtooaaeriy ose iosgolhficsaSa.roicryirws tsartfngintfneeizoo r o sunlhr einusewrn oaina d ttiSvpstp seet rcyceicoinlszd pnr gln G aedlcS unnd se sagas nnops nSceeat s.iaohigrrcs llstsr

y hcitwhs iao ds shr eterioSenirnlteweoeh gm a un nf ot hgfsleniwrenhpaeories- r nodrhirhta,i wHrvysehf r lehehi mrseascr rcbs dsoatoludgua hbksoium id cyteayli sile pae ot ssoabh Seeefr m - crkwbeooec ilcentlemurn dlntocrssfwen tpmaetu eieoso evtuear aurwSe regtrreste emtaioe o.eno gfae.r da

W tceyyi err”h ln,onoccetvtlragrao o d rna rsaduc etsueitoumh.eode eeeccob drh“ t etuGo e i3nehioSw o rtld ebsrov rtnudsse r e “s”oet dttaswa,oartm k htw’ne ba at. te fibtaol W e mn2ni oa easn% l etnta yh oeo h stdoeyohdn ag timeteisittsf i pot,m m rt hrswemeh wn emvraignrf eolreiSyug rnfnys arzreoeeihaslf