Executive View: The Surest Social Security

If three institutions are sacred in America, they are motherhood, baseball and Social Security. Any critic of the geometric rise of Social Security payouts is looked upon as a reactionary who would condemn the aged and disabled, the widows and orphans to a life of impecunity on a diet of Alpo. Yet the most articulate critic of this increasingly straitened pension system hardly looks or sounds like a modern Marie Antoinette.

He is Martin Feldstein, a gentle, cherubic fellow, who left the Bronx sidewalks for undergraduate distinction at Harvard and found a home there (with...

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