Columnists Entitlements strangling U.S. economy The Detroit News
Often you can't get a good thing without paying a bad price.
A prime example is Social Security.
It has been completely successful in wiping out poverty among the elderly.
Old ladies no longer have to eat cat food to survive.
But we pay some prices for this.
One is a lower savings rate.
China has a humongous savings rate in part because it has no reliable old-age pension system.
People have to save if they don't want to starve.
In the United States, we got out of the habit of saving.
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