Recent reports predict that, barring any changes, the Social
Security program will become insolvent--no longer able to pay
promised benefits in full--around the year 2030, well within the
retirement years of the baby boom generation. They also predict
that the trust fund will stop being a net contributor and become
instead a net claimant on the federal budget in the year 2013--much
earlier than previously thought. With the world population aging,
the increasing number of dependent senior citizens in all countries
will become a major public policy issue that will have to be
addressed continually over the next fifty years.
Social Security: What Role for the Future? takes a fresh look at
the questions essential to understanding the future of old-age
protection under Social Security. Experts in economics, actuarial
science, and public policy examine such front-burner issues as the
effects that variables such as mortality, births, inflation, wage
levels, and pension benefits will have on the income of future
retirees; the implications and effects of alternative levels of
funding and financing on Social Security; and the prospects for
publicly and privately financed income programs. The authors
conclude with an examination of social security programs around the
world and pose critical questions about the future direction of
Social Security in the United States--questions that Congress and
the American public will have to address in the coming years.
The contributors include Robert H. Binstock, Barry P. Bosworth,
Robert Brown, Gary Burtless, David M. Cutler, Jagadeesh Gokhale,
Edward Gramlich, Stephen Goss, Robert Hagemann, Dalmer Hoskins,
Estelle James, Diane Macunovich, David Mullins, Alicia H. Munnell,
Robert J. Myers, Martha Phillips, Sylvester Schieber, Margaret
Simms, C. Eugene Steuerle, and Carolyn Weaver.
Copublished with the National Academy of Social Insurance
General
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