Explain the meaning of the following terms used in the text.

enacted inflation tax vulnerable agenda imbalances maturity stagnation to expand

 

 

7 How well did you understand the article? Complete the following sentences.

1. The 1972 law essentially removed Social Security from the regular ..1.. agenda.

2. Social Security has returned to the governmental agenda only twice since 1972, each time because of ..2.. .

3. Between 1935 and 1973, Congress and the President ..3.. twenty-five Social Security laws – more than one bill every two years.

4. After two years of debate, Congress and the President enacted a 1977 bill that phased in ..4.. and recalibrated the inflation.

5. Although ..5.. from inflation, Social Security was still vulnerable to other economic shocks and to long-term ..6.. changes.