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'Protecting Social Security'

January 14, 1988

Your characterization of Social Security as a program with "fiscal integrity" was most disturbing ("Protecting Social Security," Editorial, Jan. 3). Isn't Social Security really nothing more than a government-endorsed pyramid scheme that will leave the next generation holding the bag?

You note that the aging population and shrinking work force will exhaust Social Security reserves around the year 2051.

However, by waiting 40 or 50 years, as the editorial suggests, before introducing the reforms necessary to avoid any such exhaustion of funds, we will have assured the perpetuation of Social Security's manacle well into the 22nd Century.

Now is the time while the system is solvent and adequate provision can be made for the current generation of persons entitled to benefits, to implement a plan for the gradual phasing out of Social Security over the next 40 or 50 years.

JAMES A. BLALOCK III

Los Angeles

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