1. Daniel Patrick Moynihan argues that entitlement programs such as Social Security are the most solvent part of the federal budget and will be sustainable well into the twenty-first century. The Bipartisan Commission, concerned about increasing numbers of older Americans, is pessimistic about the future viability of these entitlement programs. Which viewpoint do you find more convincing? Why? How does this issue relate to Walter A. Hahn’s scenarios on the aging of America in Chapter 1"
2. Alfred L. Malabre Jr. uses scenarios to depict possible future outcomes regarding the debt America is accumulating from “living far beyond our means.” His three scenarios concern hyperinflation, deflation, and increased government regulation. Which scenario do you believe is most likely to occur? Why? Can you think of a different scenario than these? Explain.