Just as Social Security reform is grabbing the political spotlight, the Federal Reserve Bank of San Francisco has prepared a primer on the retirement system and the stock market.

Investing Social Security funds in stocks is not a long-term solution to the retirement system's financing problems, writes Kevin Lansing, an economist at the San Francisco Fed. Even if 70% of Social Security funds were invested in stocks, it would only delay the system's default by a decade, he writes.

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