National Center for Policy Analysis Congressional Briefing

Social Security: What Happens Now?

 

WHEN: Thursday, December 9, 2004 9:00am
WHERE: G-11, Dirksen Senate Office Building

Social Security reform is at the top of President Bush agenda. And with good reason. In the next decade, two monumental shifts will occur:

  • Seventy-seven million baby boomers will start drawing benefits and stop paying taxes, and
  • Social Security and Medicare will claim an increasing share of federal income tax revenues, reaching almost 30 percent by 2020 and more than 50 percent by 2030.

So, what happens now? You are invited to get the inside scoop from two of the leading researchers on Social Security reform.

Tom Saving, Public Trustee of Social Security and Medicare, will discuss a new plan to create personal retirement accounts (PRAs). This is the only reform plan so far that:

  • Is fully paid for and does not require borrowed money;
  • Maintains the progressivity of the current system; and
  • Replaces a pay-as-you-go system with a fully funded system after one generation.

Estelle James, Consultant to the World Bank, will show how a system of inflation-indexed annuities can replace taxpayer-funded monthly payments as part of Social Security reform.

John C. Goodman, President of National Center for Policy Analysis, will moderate

For more information or to RSVP, please contact Anna Frederick at 202.220.3082 or anna.frederick@ncpa.org; Visit us online at www.ncpa.org.

The National Center for Policy Analysis is a public policy research institute founded in 1983 and internationally known for its studies on public policy issues. The NCPA is headquartered in Dallas, Texas, with an office in Washington, D.C.