Countdown to Reform: The Great Social Security Debate

Social Security has again moved to the top of the political agenda. Legislators on both sides of the aisle in both houses of Congress have pledged to “save Social Security.” But when it comes to equity, efficiency, national savings, and protection against risks, do the current reform proposals make the grade?

Henry J. Aaron and Robert D. Reischauer, Senior Fellows at the Brookings Institution and two of the nation’s leading experts on Social Security, will present report cards on the major reform proposals. The discussion will identify the important issues that they believe must be addressed at — and be part of the debate that inevitably will follow — President Clinton’s conference on the future of Social Security, to be held December 8 & 9. Washington Post Columnist and Brookings Senior Fellow E.J. Dionne will join Aaron and Reischauer in the discussion.

The briefing, which is co-sponsored by The Century Foundation and The Brookings Institution, marks the release of Countdown to Reform: The Great Social Security Debate, a new Century Foundation book by Henry Aaron and Robert Reischauer.

The book takes a straightforward look at the ongoing debate about Social Security reform. It explains the benefits and problems of the current system, weighs the pros and cons of privatization, and grades the major proposals that have been put forth thus far in the debate. In Countdown to Reform, Aaron and Reischauer also set forth their own plan for closing Social Security’s projected long-term deficit, making the system better reflect current social and economic conditions, and preserving Social Security’s fundamental character. The book serves as a primer for understanding the historical roots and future implications of reforming Social Security.