The Real Deal; The History and Future of Social Security

by Sylvester J. Schieber and John B. Shoven

• ISBN13: 9780300081497
• ISBN10: 0300081499
• Format: Trade Paper
• Copyright: 1999-09-10
• Publisher: Yale University Press

Summary

Will the Social Security system founder as millions of baby boomers enter their retirement years? Is the frightening vision of an impoverished old age a glimpse into the real future for Americans of the next generation? Book debates about Social Security reform into historical perspective, considers various reform ideas, & elaborates a proposal to ensure that the system can continue to meet the claims of the retired & the disabled. Leading experts on retirement issues set forth a carefully considered plan to change the way we finance Social Security & thereby secure its future viability.

Author Biography

Sylvester J. Schieber is vice president of research and information at Watson Wyatt Worldwide. John B. Shoven is Charles R. Schwab Professor of Economics at Stanford University.

Table of Contents

List of Figures	ix
List of Tables	xiii
Acknowledgments	xv
In Memory of Shannon J. Schieber	xvii
Social Security: Avoiding the Downstream Catastrophe	1	(16)
Part I. Social Security in America: From Conception to Maturity
The Context for the Passage of the Social Security Act in 1935	17	(9)
Developing the Social Security Act of 1935	26	(17)
Starting Up and Starting Over	43	(23)
To Fund or Not to Fund?	66	(11)
Unresolved Issues	77	(15)
A Deal That Couldn't Be Beat	92	(23)
The Inside Movers and Shakers	115	(13)
The Outside Movers, Shakers, and Takers	128	(18)
The End of the Beginning	146	(19)
Part II. Overreaching and Stepping Back
A Tale of Good Intentions Gone Bad	165	(18)
The Continued Deterioration of the System and the Big Fix: The 1983 Amendments	183	(13)
Backsliding	196	(12)
Fundamental Questions	208	(21)
The Iron Rules of Arithmetic Assert Themselves	229	(13)
Social Security in the Bigger Picture	242	(21)
Part III. The New Realities
Heathens in the Temple	263	(27)
Social Security Today and Marginal Proposals for Reform	290	(18)
A Framework for Understanding the Options for Social Security Reform	308	(20)
The Return to Pay-Go Financing	328	(18)
Wanting to Fund Is Not Enough	346	(26)
The Benefits and Risks Under Alternative Forms of Retirement Provision	372	(14)
A Proposal for Reform	386	(23)
It's Your Money We're Talking About	409	(10)
Notes	419	(22)
Index	441