1. Give two reasons why there is disagreement about Social Security reform. 2. What does it mean not to have access to credit markets? 3. What other government programs are facing budgetary problems? Are the sources of these problems the same as Social Security?
 In our example, individuals wanted to save and not to borrow because they obtained income early in life. If we made more realistic assumptions about the patterns of wages over the lifetime, we would typically find that people want to borrow at certain times of their lives. For example, people often borrow early in life to finance their education.  You can find information about this program at Medicare.gov:http://www.medicare.gov/default.asp.  “Medicaid Program—General Information,” US Department of Health and Human Services, June 16, 2011, accessed July 20, 2011, http://www.cms.hhs.gov/MedicaidGenInfo.  “The Long-Term Budget Outlook and Options for Slowing the Growth of Health Care Costs,” Congressional Budget Office, June 17, 2008, accessed July 20, 2011,http://www.cbo.gov/doc.cfm?index=9385.  This comes from figure 1 of the following testimony: “The Long-Term Budget Outlook and Options for Slowing the Growth of Health Care Costs,” Congressional Budget Office, June 17, 2008, accessed September 20, 2011, http://www.cbo.gov/doc.cfm?index=9385. 13.6 End-of-Chapter Material In Conclusion Throughout the world, people contribute to and benefit from social security programs like that in the United States. Yet, owing to demographic changes and other factors, the US Social Security system as we currently know it is unlikely to survive. The challenges faced by the United States are present in many other countries with similar demographics. In much of the developed world, the ratio of workers to retirees will decrease over the next decades. Armed with the tools of this chapter, you are now equipped to understand the implications of proposed changes to Social Security programs, both in the United States and the rest of the world.