Book by Diamond Peter A Orszag Peter R
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"An honest, transparent, and comprehensive approach to making the much needed reforms to the Social Security program." -- Journal of Pensions, Economics, and Finance "What [the book] demonstrates is this: With a balanced approach that includes both benefits cuts and new revenue, Social Security can be restored to good health and without the radical surgery others have recommended." -- Boston Globe "A concise and well-written book." -- Political Studies Review "The debate about reforming Social Security has become increasingly ideological. Scare tactics and unrealistic promises have become the norm. Diamond and Orszag bring some welcome realism and decency to the debate. They show exactly where the current system is strained, and they suggest concrete ways to strengthen and improve it with the least possible disruption to the lives of future workers and beneficiaries, especially the most vulnerable among them. There is no magic here, just the kind of honesty and common sense you would want from a really good mechanic." --Robert M. Solow, Institute Professor Emeritus, MIT, and Nobel Laureate in Economics "When members of Congress get serious about fixing Social Security, they should begin by reading this book, instead of appointing another commission." --Michael J. Graetz, Justus S. Hotchkiss Professor of Law, Yale University Law School
While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans for reforming it. Peter A. Diamond and Peter R. Orszag, two of the nation's foremost economists, propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it. In Saving Social Security's strategy balances benefit and revenue adjustments, following the precedent set by the last major Social Security reform in the early 1980s. The authors' proposal restores long-term balance and sustainable solvency to the program without imposing additional burdens on the rest of the budget. Further, it protects disability and young survivor benefits and strengthens Social Security's protections for low earners and widows. Most important, the plan preserves the program's core social insurance role by providing a base-level of assured income to American workers and their families in time of need. To better understand the accomplishments and financial problems of Social Security, Diamond and Orszag provide background on the program, as well as on the causes of the long-term deficit. They suggest ways in which various alternative reform plans should be evaluated and explain the shortcomings of proposals to replace part of Social Security with individual accounts. Saving Social Security is essential reading for policymakers involved in reform, analysts, students, and all those interested in the fate of this safeguard of American lives.
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