Jun 23, 2011 | Testimony
As the Subcommittee is well aware, the 2011 Social Security Trustees Report was released last month, and it projects that the combined Social Security trust funds will begin to be drawn down in 2023 and will be exhausted in 2036, one year earlier than projected in the 2010 Trustees Report.
Jun 22, 2011 | Testimony
The significance of manufacturing to the U.S. economy is undeniable, and the role and dynamics of this sector are important to study. It is critical to recognize, however, that manufacturing is but one segment of the U.S. economy, and the share of the resources dedicated to this sector should be determined by market forces, not government policy.
Jun 14, 2011 | Testimony
Sound retirement security policy for future retirees requires planning. Ensuring the goal of adequate asset accumulation at retirement necessitates sufficient savings throughout an individual’s career. To that end, workers need to be engaged; employers need to be responsible; and policymakers must ensure that pension law, tax law, and the Social Security system operate in a manner that promotes opportunities for private saving, appropriate retirement asset management, and sustainability and predictability. Together, these programs should complement the goal to strengthen the financial security of our workforce.