Saving Social Security

Peter Diamond and Peter Orszag

Journal of Economic Perspectives, 2005, vol. 19, issue 2, 11-32

Abstract: Social Security is one of America's most successful government programs. It has helped millions of Americans avoid poverty in old age. To be sure, the program faces a long-term deficit and is in need of updating. But Social Security's long-term financial health can be restored: the projected deficit is small enough that it can be eliminated through a progressive reform that combines modest benefit reductions and revenue increases.

Date: 2005
Note: DOI: 10.1257/0895330054048722
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