Fed's Gramlich on social security reforms

In a speech on 'Rules for assessing social security reform' given on 12 August, Edward Gramlich of the Federal Reserve said any plans to reform the Social Security retirement program should be self-financed and not rely on general government revenues.

"Let's stop the practice and require all plans to be internally financed," Gramlich said in remarks prepared for delivery to a retirement research conference.

"Now that we have budget deficits as far as the eye can see and deficits that are large

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