Tuesday, April 21, 1998 | 10:05 a.m.
The system was designed to be self-sustaining. In addition, the significant welfare component of Social Security was never intended. A return to basics would solve the Social Security crisis. Of course, such a return will never happen in our political system.
There is, of course, a relatively painless option. Adopt the Moynihan-Kerrey approach and fund transition costs with cuts in defense. This option would be acceptable to voters but not to politicians.
Republicans and Democrats would cite the loss in jobs and tax revenue from defense spending. The choice is to cut spending to fund transition. Now is the time to get on with it.
Thomas E. Murray Jr.
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