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In policy discussions about the long-term financing of Social Security, reforms enacted in 1983 are often held up as a model of balanced political compromise. But that is not exactly what happened. Only the short-term reforms, aimed at getting the program safely through the 1980s, contained a mix of changes that affected Social Security contributors and beneficiaries more or less evenly. The piece Congress added to address the remaining long-term shortfall was not a compromise. It was solely a benefit cut that is still being phased in today.
As the president's fiscal commission nears its reporting deadline, the National Academy of Social Insurance released a new policy brief, Strengthening Social Security for the Long Run.
Speakers:
Janice Gregory, NASI President and Social Security Subcommittee staff, 1983
Virginia Reno, NASI VP for Income Security and Greenspan Commission staff
Discussant:
Wendell Primus, Policy advisor to House Speaker Nancy Pelosi and chief economist for the Committee on Ways and Means, 1983
Moderator:
Lisa Mensah, NASI Chair and Executive Director of the Aspen Institute Initiative on Financial Security
- What happenned in 1983?
- Why the growing concern about the inadequacy of Social Security going forward?
- Can we afford Social Security in the future? What do Americans say they want?
- How might we improve benefit adequacy at an affordable cost?
- How might we design a 75-year financing plan?
Click here to view NASI’s new brief, Strengthening Social Security for the Long Run.
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