Economist Laurence Kotlikoff says Social Security is in trouble. The group in charge of overseeing the massive program—including Treasury Secretary Timothy Geithner, and Health and Human Services's Kathleen Sebelius—says the program is underfunded by $8.6 trillion. That sounds like a huge number, but Laurence Kotlikoff says it's more, much more: $20.5 trillion.Kotlikoff has a plan to shore up Social Security that doesn't involve cutting benefits or cutting out future generations' investment. Time is of the essence, Kotlikoff says, and it's time to put the plan into action.
Guest:
Laurence Kotlikoff, professor of economics at Boston University, author of The Clash of Generations: Saving Ourselves, Our Kids, and Our Economy. His most recent article in Huffington Post is "What Neither Candidate Will Admit—Social Security is Desperately Broke."
