You left out
this part:
But Walker also said that the impact that private accounts would have on Social Security would depend entirely on how they're funded and what other steps are taken - such as pension-benefit cuts or tax increases - to shore up the system's long-term solvency. The GAO chief also said that action is needed soon to address the system's solvency problem before it worsens.
And
this part (from another article):
"...time is working against us. The sooner you act, the less dramatic the changes that have to be made."
Beyond that, he said Congress faces a larger challenge. Social Security, Medicare and Medicaid combined "represent an unsustainable burden on future generations," said Walker, who heads the Government Accountability Office, a nonpartisan congressional agency.
"Absent meaningful changes to these programs, the nation will ultimately have to choose among persistent, escalating federal deficits, huge tax increases, and/or dramatic budget cuts."
