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Social Security's 70th Anniversary: Surviving 20 Years of Reform

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  • L. Randall Wray

Abstract

Social Security turned 70 on August 14, although no national celebration marked the occasion. Rather, our top policymakers in Washington continue to suggest that the system is "unsustainable." While our nation's most successful social program, and among its longest lived, has allowed generations of Americans to live with dignity in retirement, many think it is time to retire Social Security itself. They claim it is necessary to shift more responsibility to individuals and to scale back the promises made to the coming waves of retiring baby boomers.

Suggested Citation

  • L. Randall Wray, 2005. "Social Security's 70th Anniversary: Surviving 20 Years of Reform," Economics Policy Note Archive 05-6, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:05-6
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    References listed on IDEAS

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    1. Diamond Peter & Orszag Peter R., 2002. "An Assessment of the Proposals of the President's Commission to Strengthen Social Security," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 1(1), pages 1-61, October.
    2. John F. Henry & L. Randall Wray, 1998. "Economic Time," Macroeconomics 9811004, University Library of Munich, Germany.
    3. Dimitri B. Papadimitriou & L. Randall Wray, "undated". "Does Social Security Need Saving? Providing for Retirees throughout the Twenty-first Century," Economics Public Policy Brief Archive ppb_55, Levy Economics Institute.
    4. L. Randall Wray, 1990. "Can Americans Afford to Grow Old?: Paying for Social Security," Journal of Economic Issues, Taylor & Francis Journals, vol. 24(4), pages 1175-1179, December.
    5. Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March.
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    Cited by:

    1. L. Randall Wray & Richard Startz, 2007. "Global Demographic Trends and Provisioning for the Future," Palgrave Macmillan Books, in: Dimitri B. Papadimitriou (ed.), Government Spending on the Elderly, chapter 3, pages 53-78, Palgrave Macmillan.
    2. Yeva Nersisyan & L. Randall Wray, 2010. "Deficit Hysteria Redux? Why We Should Stop Worrying About U.S. Government Deficits," Economics Public Policy Brief Archive ppb_111, Levy Economics Institute.
    3. Martha Tepepa, 2020. "Public Charge in the Time of Coronavirus," Economics Working Paper Archive wp_950, Levy Economics Institute.

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