Research Report Social Security Reform: One More Time
Edward Gramlich
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There has been much breast-beating lately about future entitlement spending burdens. The out-year liabilities of Social Security seem quite large$11 trillion in present-value terms. How can the nation ever deal with such major funding problems? While I have offered a specific plan in the past, most notably when I chaired one of the Social Security advisory councils ten years ago, in this paper I focus only on a broader strategy. While the present Social Security system is not by itself terribly far out of long-term actuarial balance, when combined with Medicare, the country is facing major problems in funding projected entitlement spending down the road.
Research Areas Aging and retirement Taxes and budgets
Tags Social Security Pensions Individual taxes Federal budget and economy