Research Report Can Faster Economic Growth Bail Out Our Retirement Programs?
Rudolph G. Penner
Display Date
Download Report
(76.07 KB)

Government analysts portray a bleak fiscal future as the retirement of baby boomers and soaring health costs push up expenditures on Social Security, Medicare and Medicaid much faster than projected tax revenues. Some argue that the analysts' economic growth projections are too pessimistic. This analysis argues that official growth projections are quite reasonable, but even if they are too pessimistic, faster growth will accelerate Social Security costs because of the program's structure and health costs are also likely to grow more rapidly. Faster growth will, however, ease the pain associated with necessary reforms.
Research Areas Economic mobility and inequality Aging and retirement
Tags Social Security Fiscal policy Economic well-being Medicare and private health insurance Retirement policy
Policy Centers Income and Benefits Policy Center