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CED believes that Social Security is one of the most successful government-run social programs in U.S. history. Nevertheless, the challenges posed by the aging of our population make the current Social Security system unsustainable. Changing it promptly, thereby allowing reforms to be phased in gradually, is the only way to avoid harmful tax levels, painful benefit cuts, or massive budget deficits in the future.
CED favors a Social Security retirement system that continues to protect the basic economic security of all retirees, but which also is actuarially sound, encourages saving, and offers an opportunity for future retirees to receive a reasonable return on their contributions. If current long-run projections are correct, the reforms favored by CED would be more than sufficient to restore actuarial balance.
"Unlike the struggle over health care, the solution for Social Security awaits not the discovery of knowledge, but simply political will."
- Joseph J. Minarik, Senior Vice President and Director of Research at CED |
What's NewCommentary Tuesday, November 1, 2011 Joe Minarik on C-SPAN's Washington Journal Joe Minarik on C-SPAN's Washington Journal
Joseph Minarik talked about the future solvency of Social Security, and he responded to telephone calls and electronic communications. Social... read moreMonday, July 26, 2010 The Trust Fund and the Baby Boom By Joe Minarik for the Huffington Post
Recently, I suggested a legislative deal in which repair of Social Security's finances would motivate Congress to enact economic... read moreWednesday, July 14, 2010 Social Security for Stimulus: The Trade of the Century By Joe Minarik for the Huffington Post
The federal government and the economy are caught in a fiscal dilemma. The economy is stumbling to its feet... read moreReports Wednesday, May 18, 2005 Fixing Social Security: A CED Policy Update 2005
This report presents CED's plan for strengthening and modernizing the Social Security system. The plan acknowledges that some changes must be made to Social Security... read moreWednesday, February 12, 1997 Fixing Social Security 1997
This report addresses the funding shortfall of the Social Security system and the declining rates of return on contributions projected for younger workers. This... read moreWednesday, January 11, 1995 Who Will Pay For Your Retirement? The Looming Crisis (1995)
Major reforms are needed in policies that affect both private retirement plans and Social Security if the United States is to avoid... read moreEvents Friday, May 13, 2005 CED Releases Two New Papers on the Federal Budget and Social Security Reform As decisions are made in Washington that will have considerable impact on the long-term financial standing of the United States, CED has issued two new... read more |
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