The ratio of the number of workers contributing to social security to the number of beneficiaries has declined to the point where maintaining the annuity value of benefits on retirement at a level well in excess of accumulated contributions has become extremely unlikely.

As a nation we owe it to our retirees to promise only the benefits that can be delivered.

The impressive performance of the U.S. economy over the past couple of decades, despite shocks that in the past would have produced marked economic contractions, offers the clearest evidence of the benefits of increased market flexibility,

We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.

Indications that the extent of the application of existing technology is still far from complete, plus potential benefits derived from continuing synergies, support a distinct possibility that total productivity growth rates will remain high or even increase further,

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.

By the measure of what benefits consumers, such enterprises should not be discouraged,