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Saving Social Security

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Author Info

  • Peter A. Diamond
  • Peter R. Orszag

Abstract

Social Security is one of America's most successful government programs. It has helped millions of Americans avoid poverty in old age. To be sure, the program faces a long-term deficit and is in need of updating. But Social Security's long-term financial health can be restored: the projected deficit is small enough that it can be eliminated through a progressive reform that combines modest benefit reductions and revenue increases.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/0895330054048722
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 19 (2005)
Issue (Month): 2 (Spring)
Pages: 11-32

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Handle: RePEc:aea:jecper:v:19:y:2005:i:2:p:11-32

Note: DOI: 10.1257/0895330054048722
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  1. Erosa, Andres & Gervais, Martin, 2002. "Optimal Taxation in Life-Cycle Economies," Journal of Economic Theory, Elsevier, vol. 105(2), pages 338-369, August.
  2. Peter A. Diamond, 2000. "Administrative Costs and Equilibrium Charges with Individual Accounts," NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 137-172 National Bureau of Economic Research, Inc.
  3. Murphy, Kevin M & Welch, Finis, 1998. "Perspectives on the Social Security Crisis and Proposed Solutions," American Economic Review, American Economic Association, vol. 88(2), pages 142-50, May.
  4. Alicia H. Munnell, 2003. "The Declining Role Of Social Security," Just the Facts jtf-6, Center for Retirement Research.
  5. Martin Feldstein & Andrew Samwick, 2001. "Potential Paths of Social Security Reform," NBER Working Papers 8592, National Bureau of Economic Research, Inc.
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