Social Security Reform : Beyond the Basics

by Leone, Richard C.; Anrig, Gregory

• ISBN13: 9780870784316
• ISBN10: 0870784315
• Format: Paperback
• Copyright: 1999-02-01
• Publisher: Brookings Inst Pr

Summary

The debate over the future of Social Security, the federal government's largest and most successful domestic program, is at center stage in Washington. Unfortunately, many Americans who recognize the importance of the issue have become confused both by the complexity of the topic and an abundance of contradictory and misleading political rhetoric.This book attempts to clarify critical facts about Social Security and its future while highlighting widely repeated but inaccurate claims about the system. Topics explored include myths and misunderstandings about public opinion toward Social Security, the potential impact of the retirement of the baby boom generation on the American economy, whether Americans are saving enough for retirement, the relationship between the program and the federal budget, and misperceptions about the extent to which the stock market can and cannot help the system's long-term prospects.The volume is edited by Richard C. Leone, president of The Century Foundation, and Gregory Anrig, Jr., vice president. Contributing authors include Brookings Institution economists Henry J. Aaron, Robert D. Reischauer, and William Gale; former Social Security Commissioner Robert M. Ball; and Brandeis University economist James H.

Table of Contents

1. Introduction	1	(8)
Richard C. Leone
Greg Anrig, Jr.
PART I THE BASIC FACTS ABOUT SOCIAL SECURITY AND IDEAS FOR REFORMING IT	9	(40)
2. The Basics: A Guide to Social Security Reform	11	(38)
PART II WHY THE SKY WILL NOT FALL	49	(62)
3. Will the Baby Boomers Break the Bank?	51	(14)
Henry J. Aaron
Robert D. Reischauer
4. Why Boomers Don't Spell Bust	65	(8)
Richard C. Leone
5. Saving, Growth, and Social Security: Fighting Our Children over Shares of the Future Economic Pie?	73	(30)
James H. Schulz
6. Myths and Misunderstandings about Public Opinion toward Social Security: Knowledge, Support, and Reformism	103	(8)
Lawrence R. Jacobs
Robert Y. Shapiro
PART III RICH BOOMER, POOR BOOMER	111	(54)
7. Are Americans Saving Enough for Retirement?	113	(20)
William G. Gale
8. The Impact of Social Security Reform on Women	133	(6)
9. The Full Returns from Social Security	139	(26)
Dean Baker
PART IV IS THE MARKET THE CURE?	165	(64)
10. Privatization	167	(22)
Henry J. Aaron
Robert D. Reischauer
11. Three New Ideas for "Privatizing" Social Security, One Conclusion: Bad Idea	189	(12)
John Mueller
12. Saving Social Security with Stocks: The Promises Don't Add Up	201	(28)
Dean Baker
PART V ASSESSING PROPOSALS TO SAVE SOCIAL SECURITY	229	(58)
13. Restoring Social Security to Long-term Balance: What Should Be Done?	231	(26)
Robert M. Ball
Thomas N. Bethell
14. Social Security Reform Checklists	257	(30)
Notes	287	(28)
About the Contributors	315