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In: Economics

a.[6] Why is the current structure of benefits and funding for U.S. Social Security expected to...

a.[6] Why is the current structure of benefits and funding for U.S. Social Security expected to be unsustainable without a change in the Social Security law? Give as complete a set of reasons as you can.

b.[6] Suppose that the only change in the law is a single fixed percentage change in the benefits paid. Every recipient would receive a fixed percentage of the benefit they would receive under current law. Estimate that percentage under the assumption that it will be as close to 100% as possible. Explain how you get your estimate, explaining the main factors that the percentage depends on.

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