Policies to Improve the Resiliency of Long-Term Social Security Financing

While Social Security is projected to begin running deficits within the next decade and become insolvent during the early 2040s, a significant degree of uncertainty accompanies these projections. This uncertainty causes some to argue for delay in addressing projected deficits.

Moreover, some proposed reforms would increase uncertainty regarding future system financing. This paper examines policies to index Social Security taxes or benefits to changes in the ratio of workers to beneficiaries, allowing for auto-correction for changing demographic factors that impact system finances. . . .

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Andrew G. Biggs is a resident scholar at AEI.

About the Author

 

Andrew G.
Biggs
  • Andrew G. Biggs is a resident scholar at the American Enterprise Institute in Washington, DC. Prior to joining AEI he was the principal deputy commissioner of the Social Security Administration (SSA), where he oversaw SSA's policy research efforts and led the agency's participation in the Social Security Trustees working group. In 2005 he worked on Social Security reform at the National Economic Council and in 2001 was on the staff of the President's Commission to Strengthen Social Security. Andrew’s work at AEI focuses on Social Security reform, state and local government pensions, and comparisons of public and private sector compensation. His work has appeared in academic publications as well as outlets such as the Wall Street Journal, New York Times and Washington Post, and he has testified before Congress on numerous occasions. He holds a Bachelors degree from the Queen's University of Belfast, Masters degrees from Cambridge University and the University of London and a Ph.D. from the London School of Economics.
  • Phone: 202-862-5841
    Email: andrew.biggs@aei.org
  • Assistant Info

    Name: Rohan Poojara
    Phone: 202-862-5852
    Email: rohan.poojara@aei.org
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