Förlagets beskrivning
Original publisher: Washington : U.S. G.P.O. : For sale by the Supt. of Docs., U.S. G.P.O., 2005. LC Number: KF26 .F5 2005a OCLC Number: (OCoLC)61677759 Subject: Social security -- United States -- Forecasting. Excerpt: ... 11 inexorable arithmetic is, it will be necessary to cut spending on other programs, raise taxes, or to borrow more. Stepping back from that and looking at the issues from an eco-nomic policy perspective, I think it would be useful, as a matter of first order of principles, to resolve uncertainty about the future of the program. Beneficiaries will be able to make plans, workers will be able to decide what they can count on in the way of Social Security, em-ployers will have certainty about their responsibilities in the pro-gram, and policymakers will have a clearer idea about the net budgetary implications that will come from this source and be able to resolve them versus the other demands. It is also true that there are probably three other things that stand out. The threshold question is: is this the right Social Secu-rity system for the 21st century? In the face of changing demo-graphics, is it possible to reconfigure the program to be sustainable over the long term? There are many issues on the table regarding how that might be done, but I think it is important to recognize that, from a really big-picture perspective, the threshold question that keeps arising is, is it useful to have a system with more pre-funding? Those who favor pre-funding tend to focus on the reliance of indi-viduals in doing that funding, and on the impacts that might have on incentives for labor supply and for personal saving, on the po-tential for higher rates of return that come with a pre-funded sys-tem versus a pay-as-you-go system. Those who favor reconfiguring a pay-as-you-go Social Security system point to the universality of the system. They note that it allows for the potential to redistribute income and to provide Social Security insurance against the po
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Long-term outlook for social security: hearing before the Committee on Finance, United States Senate, One Hundred Ninth Congress, first session
Bokrecensioner » Long-term outlook for social security: hearing before the Committee on Finance, United States Senate, One Hundred Ninth Congress, first session
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