Video: The Sustainability of the U.S. Pension and Social Security Systems

Here’s full video of a panel discussion that was held on November 14 as part of the 2014 National Lawyers Convention. The discussion was titled “”Intergenerational Equity and Social Security, Medicare, Obamacare, and Pensions”; the panelists discuss the sustainability of Social Security, the pension system, and similar programs.

The panelists:

–Hon. Christopher C. DeMuth, Distinguished Fellow, Hudson Institute, Inc., and former Administrator for Information and Regulatory Affairs, U.S. Office of Management and Budget

–Prof. John O. McGinnis, George C. Dix Professor in Constitutional Law, Northwestern University School of Law

–Prof. David A. Weisbach, Walter J. Blum Professor of Law and Senior Fellow, The Computation Institute of the University of Chicago and Argonne National Laboratory

–Moderator: Hon. Frank H. Easterbrook, U.S. Court of Appeals, Seventh Circuit

From the video description:

Several major federal programs directly tax the young to provide benefits to the elderly. This is a main feature of the Affordable Care Act, the Social Security System as it currently works, and of the laws guaranteeing pensions. In addition, the national debt raises intergenerational equity issues. What obligations do these debts impose on the young? Are they all of a piece or are the answers different in each case? Is it true that this generation is likely to be poorer than the previous one? What role does our legal system play in this? How will the law address pensions that contribute to bankrupting cities or states? What is the nature of the Social Security contract?