Social Security

The Coming Fiscal Deluge

In 2011, the first group of baby boomers will reach the age of 65. When the last of that generation retires in 2032, 77 million of them will have ceased working and paying taxes and will have begun re…

Social Security Reform without Illusion: The Five Percent Solution

America’s entitlement programs for senior citizens are on an unsustainable course. Unless changes are made soon, we face the prospect of exorbitant tax rates or severe benefit cuts.

Private Pension Annuities in Chile

Chile adopted a new pension system featuring privately managed individual accounts in 1981. The system gives us an opportunity, based on more than 20 years of experience, to examine how pensioners and…

Retirement Savings Reforms on which the Left and the Right Can Agree

As the baby boomers near retirement, defects in the nation's private pension system are becoming obvious. Only about half of workers contribute to an employer-sponsored pension plan in any given year,…

How Will We Pay for Social Security and Medicare?

Social Security and Medicare are making future promises much greater than the taxes that will be collected at current rates. Unfortunately, some policymakers seem to be intent on making the problem wo…

The 2004 Medicare and Social Security Trustees Reports

The 2004 Medicare and Social Security Trustees Reports show that programs for the elderly are on an unsustainable course. The expenditures exceed the revenues to be collected, and the funding gap is p…

Social Security & Medicare Forecast: 2004

The 2004 annual reports for Social Security and Medicare examine the short- and long-term health of these programs, and highlight the financial burdens they will create for future generations. If not…

Eliminating the Social Security Payroll Cap: A Bad Idea

Most proposals to address Social Security's looming insolvency would integrate a private investment component into the current system, allowing younger workers to fund part of their own future benefit…