Social Security, instituted in 1935, has provided tens of millions of Americans with income for retirement. Currently, more money is collected in Social Security taxes from workers than is paid out to retirees. But that ratio is reversing as “baby boomers” start to retire and the workforce shrinks due to the recession. Options to close the gap include more borrowing, higher taxes or reduced benefits.
John Betar, 102, and his wife Ann, 98, are seen at their home in Fairfield, Connecticut (REUTERS/Michelle McLoughlin).
An Old Story About the War On Poverty
February 12, 2014, Ron Haskins
Ron Haskins discusses the positive impacts that the War on Poverty—specifically Social Security, Medicare and Medicaid—has had on the health, life expectancy and poverty rates of the elderly.
Retirement, Saving and Pensions
U.S. Economic Performance
U.S. Budget Deficit
The Federal Budget
Testimony | Senate Special Committee on Aging
December 8, 2011, Henry J. Aaron
Testimony | U.S. House of Representatives Committee on the Budget
March 17, 2011, Alice M. Rivlin
Testimony | Senate Committee on the Budget
January 21, 2009, Alice M. Rivlin
Testimony | House Committee on the Budget
June 24, 2008, Henry J. Aaron
Testimony | House Committee on Ways and Means
May 19, 2005, Peter R. Orszag
Testimony | Senate Committee on Finance
April 26, 2005, Peter R. Orszag
February 9, 2005, Peter R. Orszag
Testimony | Democratic Policy Committee
January 28, 2005, Peter R. Orszag
Testimony | Joint Economic Committee
March 10, 2004, Peter R. Orszag
October 3, 2002, Peter R. Orszag
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Henry J. Aaron
Senior Fellow, Economic Studies
The Bruce and Virginia MacLaury Chair
Isabel V. Sawhill
Co-Director, Center on Children and Families, Budgeting for National Priorities
The John C. and Nancy D. Whitehead Chair
View All Experts on Social Security »
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