Friday, May 13, 2005

Actual Social Security reform

For those who want a broader and more thoughtful take on Social Security reform than either side has been providing these days, I recommend this piece by Eugene Steuerle. Even if you don't agree with it all (and I agree with most of it), it goes way beyond shrieking like a parrot either "Private accounts - private accounts" or "No change needed yet - no change needed yet."
Even so thoughtful a proposal as the Diamond-Orszag plan, described in detail here under the April 7 date, is constrained by the terms of the exercise, which, rather than attempting full optimization, largely consisted of showing how one could restore Social Security's solvency without greatly changing its policy content.

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