In contrast, see a proposal[0] by Austrian economist Bob Murphy for reforming a different entitlement program in such a way that would reduce costs for the same

In contrast, see a proposal[0] by Austrian economist Bob Murphy for reforming a different entitlement program in such a way that would reduce costs for the same service. Summary excerpt: The Social Security program is in the hole by $11 trillion. The government could ameliorate this gap by letting Americans opt out of the system, so long as they make a payment to cover the present value (if positive) of their net obligations. Because the pay-as-you-go system has an implicit rate of return that is lower than private investments but higher than what the government would pay in the bond market, there are “win-win” moves that allow workers to build up a larger retirement fund while reducing the government’s financial hole. [0]: http://www.econlib.org/library/Columns/y2017/Murphysocialsecurity.html http://www.econlib.org/library/Columns/y2017/Murphysocialsec...