What Does Fixing Social Security Actually Fix?

Brief

What Does Fixing Social Security Actually Fix?

Abstract

This essay applauds policymakers for finally addressing the growing gap between Social Security revenues and its promised future benefits, but it points out that policymakers are using inadequate tools to tackle the problem. Instead of simplified accounting devices, the brief argues that policymakers should utilize more tangible demographic data in their efforts to revamp Social Security. Specifically, it asserts that in order to "fix" Social Security, policymakers must take into consideration decreasing mortality and fertility rates, slowing labor force growth rates, the rapidly retiring baby boomers, and the continuing advances of technology.

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