How Reforms Would Affect Social Security’s Funding Shortfalls, Total Spending, and Distribution of Benefits and Taxes
Entitlement reform has dominated the ongoing debate over reducing the federal government's persistent deficits and mounting debt. Together Medicare and Social Security account for a third of current federal spending and will continue to grow as a share of both the economy and federal spending in coming years. Since the inception of Medicare and Social Security, numerous reforms have been proposed. This study focuses on Social Security reform, examining four types of reform that represent the range of most commonly mentioned options.