The Personal and Fiscal Impact of the Social Security 2100 Act

Social Security requires immediate reform, and every year in which Congress fails to confront the program's undeniable shortfalls creates additional costs---higher taxes or larger benefit reductions---for future workers and retirees. While there is no way to undo Social Security's past exc...

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Bibliographic Details
Published in:Policy File 2019
Main Authors: Greszler, Rachel, Gonshorowski, Drew
Format: Report
Language:English
Subjects:
Budgets/Expenditures
Social security
The Heritage Foundation
Online Access:Request full text
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Summary:Social Security requires immediate reform, and every year in which Congress fails to confront the program's undeniable shortfalls creates additional costs---higher taxes or larger benefit reductions---for future workers and retirees. While there is no way to undo Social Security's past excesses, there is a way to curb the program's excessive growth and return it to its original purpose of protecting seniors from living in poverty by providing a stable source of income.