Well, Mr. President, that is a deliberate strategy. The purpose was to build the reserves, and it was going to work beautifully, until this year, in the year 1996. Every 7/2 seconds somebody turns 50, and 15 years from now, in the year 2012, there will be a dramatic drawdown. We ought to link the two cases together, because they are so dramatic that it is hard to describe.
Alan Simpson: “Well, Mr. President, that is a deliberate strategy. The purpose was to build the reserves, and it was going to work…”
Editor's note · Context
Discussing the implications of demographic changes on reserve funds.
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