"Synthesizing mountains of data and explaining sophisticated economic concepts in layman's terms, the Santows expose myths about how entitlement programs actually work, arguing, for example, that while the financial state of Social Security gets most of the press, Medicare and Medicaid are in much more serious trouble. Moreover, they are highly critical of privatization plans, demonstrating that similar programs have failed in other countries and that such plans and programs are neither fiscally nor socially sound. If the American people value the common commitments that these programs embody, we will need to see them as a package, and fund them accordingly.

In response to this challenge, the Santows integrate conservative and liberal viewpoints to propose a package of reforms that includes both tax cuts and increases and an overhaul of the government's economic forecasting system. Featuring a time-line of key events since Franklin Roosevelt signed the Social Security Act in 1935 and an appendix of data tables, the authors offer a primer for concerned citizens, policymakers, educators, students, and finance professionals - anyone with a stake in designing a system that pays for these essential programs in an equitable manner and contributes to our collective prosperity."--Jacket.