RE: Social Security Roundtable

[Ron Gebhardtsbauer <gebhardtsbauer@actuary.org>]

Bob,

I got the enviable spot of responding after the other panelists
had their say, which I thought were all good.  They all pushed for
action sooner rather than later.  Even though the American Academy
of Actuaries doesn't take a position on legislation, we can agree
to that one.  Quicker action will mean more people can be a part
of the solution.  If we wait until the problems come, lots of baby
boomers will have already retired and it will be very difficult to
touch them.

Sooner action means less drastic changes in the future, and it
gives us time to gradually phase in the changes, with no big bumps
(or notches) along the way.  If the changes are made gradually,
then each of us can plan ahead for them.

Finally, the sooner we solve the problem, the sooner we restore
confidence in the system.

I especially liked John's point that direct discussions between
the President and Congressional leaders are needed and in fact, we
need to put the pressure on them to do that.  I think Ways and
Means Chairman Archer and President Bill Clinton just may do that.
Let's encourage it.  Otherwise, nothing will happen this year.
Ann is correct that nothing will happen until 2001 (after the
election), unless we move fast!.

Finally, I'm glad that Gerry put some ideas on the table.  I'll
respond after everyone has had a chance to do that.

RON