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Saving Social Security

  • Peter A. Diamond
  • Peter R. Orszag

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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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. 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.
  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. Samwick, Andrew & Feldstein, Martin, 2001. "Potential Paths of Social Security Reform," Scholarly Articles 2920119, Harvard University Department of Economics.
  4. Andrés Erosa & Martin Gervais, 1998. "Optimal Taxation in Life-Cycle Economies," UWO Department of Economics Working Papers 9812, University of Western Ontario, Department of Economics.
  5. Alicia H. Munnell, 2003. "The Declining Role Of Social Security," Just the Facts jtf-6, Center for Retirement Research.
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