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What was it like to be the chief actuary of the U.S. Social Security Administration?

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What was it like to be the chief actuary of the U.S. Social Security Administration?

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The chief actuary has certain prescribed duties, principally preparing—in conjunction with the system’s Trustees—an annual report on the financial outlook for Social Security and Medicare; and financial analyses of proposed changes in the systems. After overseeing these technical analyses for a few months, I concluded that the systems would have almost insurmountable financial and design challenges in the years ahead as the baby boom population matured; that the greatest obstacle to effecting rational changes was the lack of understanding—both among the public and within the administration—of the nature of Social Security and its financing; and that no one in the administration or elsewhere seemed concerned about, or was addressing, these problems. It was time to step outside my important—but relatively narrow—role as a technician, and inform the public, as well as the legislators and the administration, about the long range consequences of continuing obliviously down this path. This I

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