Abstract
At the end of 1982, the Social Security System's Old-Age and Survivors Insurance Trust Fund (OASI) was forced to borrow for the first time in order to pay promised retirement benefits [6]. The Trustees had previously reported that without corrective legislation, the combined Old-Age and Survivors Insurance and Disability Insurance Trust Funds (OASDI; hereinafter the Funds) would likely be depleted sometime in 1983, under a range of economic and demographic assumptions [4].' Rescue legislation was enacted in March 1983, based largely on the Report of the National Commission on Social Security Reform [13, 17]. Many factors causing the recent Social Security crisis relate to the System's liabilities. The 1983 Social Security Act Amendments and other proposals aimed
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