Wharton professor of Insurance and Risk Management Olivia Mitchell had two pieces of advice for students.
"Don't grow old [and] don't retire," said Mitchell, referring to the bleak future of Social Security.
The newly founded Conservative Student Fellowship hosted one of its first events of the year in Irvine Auditorium last night.
Mitchell led the discussion on the future of Social Security reform and the difficulties faced by politicians trying to remedy a solution.
Mitchell specifically highlighted the economic and political difficulties of passing Social Security bills.
"In 2002, the Bush administration put out the plan outlined by" the Presidential Social Security Commission, Mitchell said. "In 2003, the year before the election, nobody wanted to risk it. Social Security was called the third rail -- touch it and you die."
She also outlined the problems associated with the current policy and the increased ramifications of postponing a decision.
Though the presentation focused mainly on the future financial difficulties in the United States, Mitchell also reviewed the financial futures of other countries. She pointed out that France, Germany and Japan are facing high levels of debt associated with inefficient payroll tax policies.
Aside from the economic aspects, politics was also an important issue on the minds of the approximately 15 students in attendance.
Wharton senior Tim Wengerd said he believes that the Social Security issue will not be resolved in the near future.
"I think the government is only looking at short-term goals because of re-election," Wengerd said. "Since elections are every two years, everything is short term. It's hard to fix Social Security because of political incentives."
Many students appreciated Mitchell's nonpartisan views.
"I have taken microeconomic and macroeconomic courses in Wharton," said Management and Technology senior Kathie Dykes. "This is the first time I've seen an actual unbiased political opinion -- versus the media, which has political undertones."
Mitchell's presentation also stimulated students to pay closer attention to Social Security reform in the future.
Social Security "is [a] very important issue," said Wharton sophomore and CSF co-founder Syed Akbari. "We do have a commitment to seniors who are expecting the payments and to this generation, which is saddled with debt."
"It's a good year to fix problems," he added.
Though many students criticized politicians' role in Social Security reform, Akbari expressed hope.
"I trust the president to do this [Social Security reform] in his second term when he does not have to worry about re-election."
In 2001, Mitchell participated in a bipartisan presidential commission that was organized to determine the future of Social Security reform.
