Cato Institute's Romina Boccia Warns of Social Security Crisis and Potential Great Depression
In this week's episode, Romina Boccia, director of budget and entitlement policy at the Cato Institute, discusses pressing issues in retirement policy. She highlights the urgent need to address Social Security's financing challenges and explores the potential for a new Great Depression. Additionally, the episode delves into the U.S. auto industry's stance on the electric vehicle revolution and a new study on pharmaceutical tariffs.
Boccia, also the editor of Debt Dispatch on Substack and co-author of 'Reimagining Social Security', stressed the importance of reforming entitlement spending sustainably. She believes constitutional or legislative measures are necessary to ensure Social Security's long-term solvency.
The episode also analysed the possibility of a new Great Depression, as explored by Phil Magness and Marc Wheat in National Review. Boccia discussed working and saving patterns in relation to retirement policy changes. She touched on budget deficits and the need to reform America's flagship retirement program.
Boccia's insights into Social Security reform and potential economic downturns provide valuable perspectives on current and future retirement policy. The episode's exploration of the U.S. auto industry's stance on electric vehicles and the new study on pharmaceutical tariffs offers a well-rounded view of the week's key issues.
