Social Security Has To Be Addressed: Orszag

Your view on the Trump accounts, which have now made clear that those kids under 18 will now be automatically enrolled in these Trump accounts? Is it a good thing? I think that part is a good thing. And the power of inertia and the power of default is very. We all know it from our own lives. If something's even a little difficult off and you don't do it. Um, and that was the point about auto enrolment, uh, into, uh, retirement savings plans. And also, if you're going to set up something, uh, for kids, it's better to auto enroll them. I got to get this done. I think a lot of people don't know Lazard. Your stewardship of Lazard here, the way around. And so everywhere he goes, you have to run five miles with Peter Orszag. I mean, every city, if that's one way to wean people out. Jack Lew was on. And, you know, Social Security is going to fall apart here. If I had to pick, you know, Republican, Democrat whatever to be on Jekyll, you'd be on the short shortlist for that. How close are we to Social Security failing after the presidential election of 28? Uh, both Social Security and Medicare have, uh, looming problems associated with their financing. They will have to be addressed. This is part of an overall fiscal imbalance of 6 to 7% of GDP. And history shows we don't deal with these problems until their, uh, crises. The last Social Security reform did not occur until checks were literally not about to go out the door. That's the part of the Greenspan Commission that people, uh, that people missed it from 1983. You need that forcing event to really focus people's attention. We don't have that forcing event yet.