The Resource A summary of saving Social Security : a balanced approach, [by] Peter A. Diamond [and] Peter R. Orszag., (electronic resource)

A summary of saving Social Security : a balanced approach, [by] Peter A. Diamond [and] Peter R. Orszag., (electronic resource)

Label
A summary of saving Social Security : a balanced approach
Title
A summary of saving Social Security
Title remainder
a balanced approach
Statement of responsibility
[by] Peter A. Diamond [and] Peter R. Orszag.
Creator
Contributor
Provider
Language
eng
Summary
This paper reviews the financial position of Social Security, presents a plan for saving it, and discusses why Social Security revenue should not be diverted into individual accounts. Our approach preserves the value of Social Security in providing a basic level of benefits for workers and their families that cannot be decimated by stock market crashes or inflation, and that lasts for the life of the beneficiary; it increases benefits for some particularly needy groups such as those who have worked at low pay over long careers and widows and widowers with low benefits; it eliminates the long-term deficit in Social Security without resorting to accounting gimmicks, thereby putting the program and the federal budget on a sounder financial footing. Our plan combines revenue increases and benefit reductions - the same approach taken for reaching a consensus in the last major Social Security reform in 1983. Keywords: Social Security, actuarial balance, individual accounts. JEL Classifications: H550
Member of
Additional physical form
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
Cataloging source
MYG
http://library.link/vocab/creatorName
Diamond, Peter A
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • bibliography
  • technical reports
http://library.link/vocab/relatedWorkOrContributorName
  • Orszag, Peter R
  • Massachusetts Institute of Technology
  • Internet Archive
Series statement
Working paper series / Massachusetts Institute of Technology, Dept. of Economics
Series volume
working paper 04-21
Label
A summary of saving Social Security : a balanced approach, [by] Peter A. Diamond [and] Peter R. Orszag., (electronic resource)
Instantiates
Publication
Note
"May 2004."
Bibliography note
Includes bibliographical references (p. 49-53)
Dimensions
28 cm.
Extent
53 p.
Other physical details
ill.
Specific material designation
remote
System control number
  • (OCoLC)55232385
  • (CaSfIA)summaryofsavings00diam
  • (CaSfIA)001259300
Label
A summary of saving Social Security : a balanced approach, [by] Peter A. Diamond [and] Peter R. Orszag., (electronic resource)
Publication
Note
"May 2004."
Bibliography note
Includes bibliographical references (p. 49-53)
Dimensions
28 cm.
Extent
53 p.
Other physical details
ill.
Specific material designation
remote
System control number
  • (OCoLC)55232385
  • (CaSfIA)summaryofsavings00diam
  • (CaSfIA)001259300

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