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.
India's Finance Minister Arun Jaitley (C) poses as he leaves his office to present the 2015/16 federal budget in New Delhi (REUTERS/Vijay Mathur).
A review of the 2015-2016 Indian budget
March 4, 2015
In a Brookings online discussion, panelists discuss the significance, key takeaways, the hits, and misses of the first full year budget released by Prime Minister Narendra Modi's government.
Retirement, Saving and Pensions
U.S. Economic Performance
U.S. Budget Deficit
The Federal Budget
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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
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