Social security reform

Options for the future

Research output: Contribution to journalArticle

Abstract

Currently anticipated Social Security revenues are inadequate to pay for the benefits promised under the current law. Therefore, some combination of revenue increases and/or benefit decreases or delays is inevitable. This article describes the demographic changes behind these long-run fiscal problems and discusses the types of Social Security reform plans that have been proposed - from modest changes in the parameters of the current system to radical reform through privatization. The article reviews the goals of Social Security and discusses the pros and cons of significant privatization. The author concludes that privatization is definitely not required to save Social Security (much more traditional approaches can do that) and that we should be very careful about radically changing a program that is so important to the economic well-being of the majority of older Americans and that has been so successful and popular for more than 60 years.

Original languageEnglish (US)
Pages (from-to)257-272
Number of pages16
JournalJournal of Applied Gerontology
Volume21
Issue number2
DOIs
StatePublished - 2002
Externally publishedYes

Fingerprint

Social Security
Privatization
Economics
Demography

ASJC Scopus subject areas

  • Geriatrics and Gerontology

Cite this

Social security reform : Options for the future. / Quinn, Joseph.

In: Journal of Applied Gerontology, Vol. 21, No. 2, 2002, p. 257-272.

Research output: Contribution to journalArticle

@article{bf3732de592c4a20a9c00e75d4b7b329,
title = "Social security reform: Options for the future",
abstract = "Currently anticipated Social Security revenues are inadequate to pay for the benefits promised under the current law. Therefore, some combination of revenue increases and/or benefit decreases or delays is inevitable. This article describes the demographic changes behind these long-run fiscal problems and discusses the types of Social Security reform plans that have been proposed - from modest changes in the parameters of the current system to radical reform through privatization. The article reviews the goals of Social Security and discusses the pros and cons of significant privatization. The author concludes that privatization is definitely not required to save Social Security (much more traditional approaches can do that) and that we should be very careful about radically changing a program that is so important to the economic well-being of the majority of older Americans and that has been so successful and popular for more than 60 years.",
author = "Joseph Quinn",
year = "2002",
doi = "10.1177/07364802021002008",
language = "English (US)",
volume = "21",
pages = "257--272",
journal = "Journal of Applied Gerontology",
issn = "0733-4648",
publisher = "SAGE Publications Inc.",
number = "2",

}

TY - JOUR

T1 - Social security reform

T2 - Options for the future

AU - Quinn, Joseph

PY - 2002

Y1 - 2002

N2 - Currently anticipated Social Security revenues are inadequate to pay for the benefits promised under the current law. Therefore, some combination of revenue increases and/or benefit decreases or delays is inevitable. This article describes the demographic changes behind these long-run fiscal problems and discusses the types of Social Security reform plans that have been proposed - from modest changes in the parameters of the current system to radical reform through privatization. The article reviews the goals of Social Security and discusses the pros and cons of significant privatization. The author concludes that privatization is definitely not required to save Social Security (much more traditional approaches can do that) and that we should be very careful about radically changing a program that is so important to the economic well-being of the majority of older Americans and that has been so successful and popular for more than 60 years.

AB - Currently anticipated Social Security revenues are inadequate to pay for the benefits promised under the current law. Therefore, some combination of revenue increases and/or benefit decreases or delays is inevitable. This article describes the demographic changes behind these long-run fiscal problems and discusses the types of Social Security reform plans that have been proposed - from modest changes in the parameters of the current system to radical reform through privatization. The article reviews the goals of Social Security and discusses the pros and cons of significant privatization. The author concludes that privatization is definitely not required to save Social Security (much more traditional approaches can do that) and that we should be very careful about radically changing a program that is so important to the economic well-being of the majority of older Americans and that has been so successful and popular for more than 60 years.

UR - http://www.scopus.com/inward/record.url?scp=0036263833&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0036263833&partnerID=8YFLogxK

U2 - 10.1177/07364802021002008

DO - 10.1177/07364802021002008

M3 - Article

VL - 21

SP - 257

EP - 272

JO - Journal of Applied Gerontology

JF - Journal of Applied Gerontology

SN - 0733-4648

IS - 2

ER -