What is the rational for a forced savings social security program? The government's budget deficit may be reduced. The government can make intergenerational transfers. The commitment problem for the...

Extracted text: What is the rational for a forced savings social security program? The government's budget deficit may be reduced. The government can make intergenerational transfers. The commitment problem for the government may be solved. It makes everyone better off even when the population growth rate is lower than the real interest rate. The young cannot commit to participating when they are old.