George Shultz and John Shoven presented their ideas for a reform of Social Security and health care in a featured program last night at The Commonwealth Club of California in San Francisco. Shultz, former U.S. Secretary of State and former Secretary of Labor, is a noted economist and chairs the Governor of California's Economic Advisory Board. He is co-author, with Shoven, of Putting Our House in Order: A Guide to Social Security and Health Care Reform. Shoven is a senior fellow at the Hoover Institute and the director of the Stanford Institute for Economic Policy Research.Noting that the goals of health-care reform should include full coverage and would entail subsidy for people unable to get coverage on their own, Shultz then sought to explain their proposals for reforming these two gargantuan social programs and related industries.
The event, underwritten by Koret Foundation Funds, occurred just a few days after President Obama's Council of Economic Advisors chair, Christina Romer, spoke to The Club on the economic aspects of health-care reform. She argued that the costs of not reforming health care in this country would be enormous, but that the savings from doing it would improve the economy in many ways.
To see Shultz and Shoven discuss their ideas, watch this video of their Commonwealth Club event:
