Entitlement Reform: The Way to Eliminate the Deficit

It is understandable that many Americans are coming to the conclusion that the problems of the federal government’s deficit have at last been laid to rest. After all, the President’s budget package enacted last fall made a much publicized “down payment” on eliminating the deficit; and Clinton’s insistence in his …

The Price of Gluttony

One of the most depressing aspects of the recent Persian Gulf upheaval is that the United States has once again been caught virtually unprepared to deal with the threat to its supply of imported petroleum. This should not have come as a surprise. Indeed, as the 1980s unfolded, the increasing …

Gorbachev’s Bottom Line

During a recent visit to the Soviet Union,[^1] a small group from the Council on Foreign Relations, including myself, met with senior Soviet officials, Andrei Sakharov, and various dissidents, and had a three-hour session with Mikhail Gorbachev. My impression of the General Secretary was of a new chief executive officer: …

The Salvation of Social Security

Social Security remains sacred in American politics while it threatens the entire economy. In the recent election campaign, practically all the candidates promised to “preserve Social Security,” to “resist any cuts in benefits,” and to “protect the elderly poor.” No one dared to say that without major reforms—including “cuts”—the Social …

Social Security: The Coming Crash

Social Security’s troubles are fundamental. Its financial problems are not minor and temporary, as most politicians, at least in election years, feel compelled to insist. Unless the system is reorganized, these problems will become overwhelming. To put the matter bluntly, Social Security is heading for a crash. We cannot permit …