in_the_media

U.S. faces problem of paying those who produce nothing

Media Outlet: 

Philadelphia Inquirer

The problem the country now faces is that lots of people who don't produce anything or make anything, get "paid" nonetheless — through pensions or Social Security, writes Bill Dunkelberg, a professor of economics at Temple, in an opinion piece. "When the economy is growing, at least in recent times, about 600,000 new firms start and about 500,000 exit each year (and few declare bankruptcy)....Government must become very supportive of this growth, or we will have to renege on many of the promises we have made to those no longer employed - retired or otherwise."