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• Governance Studies

  Thu, 19 Nov 2009 09:55:43 GMT

  Governance Studies brings together people interested in improving the performance of our national government and bettering the economic security, social welfare, and opportunity available to all Americans.

• There is No Entitlement Crisis; There Is a Health Care Funding Crisis

  Tue, 01 Sep 2009 00:00:00 GMT

  Senior Fellow Henry J. Aaron explains why reforming health care is crucial to sustaining Medicare, Social Security and federal finances.

• Health Care, Entitlements and the Federal Budget

  Mon, 15 Jun 2009 00:00:00 GMT

  Henry Aaron recently spoke about the budget, health care and entitlements at the Youth Action Conference.  The conference, hosted by the Concord Coalition in conjunction with the Youth Entitlements Summit highlighted grassroots efforts and policy perspectives of youth organizations in addressing America's long-term fiscal challenge.

• The Potential Role of Entitlement or Budget Commissions in Addressing Long-term Budget Problems

  Tue, 02 Jun 2009 00:00:00 GMT

  
  The United States faces a looming fiscal imbalance brought on by an aging population and rising health care costs. Yet, the current political environment discourages our leadership from making the tough choices required to fix our fiscal house. In this paper, a diverse group of budget experts reviews some of the recent history of appointed commissions, and discusses their potential role in long-term federal budgeting policy.

• Social Security and Medicare Solvency

  Fri, 15 May 2009 10:19:47 GMT

  The latest report on the solvency of the Social Security and Medicare trust funds reveals that these entitlement programs will likely run out of money sooner than expected. Senior Fellow Henry Aaron assesses the future of these two programs.

• Pensions, Social Security and the Privatization of Risk

  Fri, 27 Mar 2009 09:00:00 GMT

  Event Information:
  

  • March 27, 2009, 9:00 AM to 11:30 AM
  
  

  Thirty years of policies favoring private industry and the privatization of shared risks have rewritten the economic rules of the road for all Americans and complicated the task of planning for retirement. On March 27, the Brookings Institution and the Social Science Research Council (SSRC) hosted a forum exploring the effects of privatization on pension security and the ability of Americans to plan for old age.

• Making a Good Budget Better

  Thu, 26 Mar 2009 00:00:00 GMT

  
  President Barack Obama’s budget is the subject of floor debate in the House and Senate this week. Alice Rivlin says that the budget offers good remedies for America’s economic ills, but urges Congress to make it even better by paying for the new investments and reducing the long-term deficits.

• Financial Literacy in Times of Turmoil and Retirement Insecurity

  Fri, 20 Mar 2009 08:50:00 GMT

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  • March 20, 2009, 8:50 AM to 04:30 PM

  On March 20, the Brookings Institution; the Wharton School's Pension Research Council and Boettner Center; the University of Michigan Retirement Research Center; and The Retirement Security Project co-sponsored a conference on financial literacy and retirement preparedness. The keynote address was given by Michael Astrue, commissioner of the Social Security Administration.
  

• Obama's Budget Battle

  Thu, 26 Feb 2009 00:00:00 GMT

  In order to overcome trillion-dollar deficits, the president must get spending under control – and muster a lot of political will says Isabel Sawhill: First, by getting Health Care spending under control; second, by putting Social Security on a sound financial basis; and finally by raising revenues.

• There is No Entitlement Crisis

  Mon, 23 Feb 2009 00:00:00 GMT

  That the United States faces daunting long-term budget challenges is indisputable. But the very projections—those of the Congressional Budget Office—cited to document the long-term budget challenge, show that there is no general entitlement problem, says Henry Aaron. Rather, he argues, the nation faces a daunting health care financing problem that bedevils private insurers and public programs alike.

• Economic Stimulus and the Budget Deficit

  Mon, 09 Feb 2009 12:22:55 GMT

  In these tough times, the economy needs a stimulus, regardless of the impact on the deficit, says Isabel Sawhill. But prudent action needs to be taken to address runaway entitlement spending and that agenda should reconsider our intergenerational spending priorities.

• A Vision for the U.S. Pension System at 100

  Thu, 29 Jan 2009 00:00:00 GMT

  Despite criticism of the Social Security Act, and it's application to twenty fist century America, Henry Aaron believes that those views are wrong. In broad outline, he says, the system is sound, sensibly designed, and affordable though some changes are now desirable, and that others will, and should, be made as economic and political conditions warrant. But he urges, they should affirm and strengthen the system, not scale it back or repeal it.

• A Budget We Can Believe In

  Tue, 27 Jan 2009 00:00:00 GMT

  
  A diverse group of experts urged President Obama, in his first budget submission, to strike a judicious balance between America’s short-term and long-term economic needs. While the need to boost spending to stimulate the economy is important, they say these short-term steps must not make it harder to achieve our long-term goals. They note that fundamental reforms of major entitlement programs and the tax system are needed to bring spending and revenues into better balance over the longer-term.

• Short and Long-Run Fiscal Challenges

  Wed, 21 Jan 2009 00:00:00 GMT

  In testimony to the Senate Budget Committee, Alice Rivlin argued that the future health of the nation’s economy depends on whether policy-makers can focus on two imperatives at once: the need to take immediate action to mitigate the impact of the recession; and the need to restore long-term fiscal responsibility and reassure our creditors that we are getting our fiscal house in order.

• Stock Market Fluctuations and Retiree Income

  Fri, 31 Oct 2008 00:00:00 GMT

  
  While Social Security’s long-term problems represent a major policy challenge, the sharp fall in stock prices serves as a reminder that many substitutes for Social Security – such as individual retirement accounts -- have problems of their own. Gary Burtless analyzes how personal retirement savings accounts have performed historically, including over the past 12 months, and finds that retirement funds invested solely or mainly in the stock market offer a very shaky foundation for retirement income.

• Why We Need to Cut Seniors' Benefits

  Fri, 24 Oct 2008 00:00:00 GMT

  Isabel Sawhill discusses the big three of entitlement programs - Medicare, Social Security and Medicaid and how they will wreak havoc on the country's finances (and yours) unless we scale them back.

• Another Lesson from Today’s Financial Meltdown

  Mon, 22 Sep 2008 00:00:00 GMT

  
  In the midst of the financial chaos enveloping Wall Street and threatening the U.S. and global economy, Henry Aaron says it is worth a moment to recall the quite serious debate just three years ago about partly privatizing Social Security, a step that would have exposed retirement and disability pensions to risks like those now confronting private investors.

• A Balanced Approach to Restoring Fiscal Responsibility

  Wed, 23 Jul 2008 00:00:00 GMT

  
  With baby boomers beginning to retire and health care spending outpacing income growth, Medicare, Medicaid and Social Security face an uncertain financial future. Henry Aaron, Charles Schultze and other experts propose a radical change in budget procedures to address the budget deficits currently projected for future decades.

• Closing Budget Deficits: An Entitlements Commission is Not the Answer

  Tue, 24 Jun 2008 00:00:00 GMT

  
  Henry J. Aaron testified before the House Committee on the Budget about H.R. 3654, a bill that would establish a federal budget commission to "reform tax policy and entitlement benefit programs and ensure a sound fiscal future."

• Bridging the Social Security Divide: Lessons From Abroad

  Thu, 19 Jun 2008 00:00:00 GMT

  
  Kent Weaver argues that a new approach to Social Security reform requires the president and congressional leaders to agree on an overall mandate for a commission named through a bipartisan nominating process designed to generate a group that is likely to focus on practical, consensus-building solutions. Special procedures in each house of Congress would provide expedited consideration of the commission’s reform package and alternatives, while providing incentives for constructive congressional engagement in the reform process.

• Tackle Social Security First

  Tue, 17 Jun 2008 00:00:00 GMT

  
  The next president and new Congress face a daunting set of challenges come January 2009: Iraq war, troubled economy, global climate change, looming government debt, taxes, health care reform and rebuilding infrastructure, all vying for immediate attention. Such a long "to do" list presents two possible tactics: tackle the hardest problem first or get the easy ones out of the way. Alice M. Rivlin and John W. Kingdon prefer the latter and would start with Social Security.

• Increasing Annuitization of 401(k) Plans with Automatic Trial Income

  Thu, 05 Jun 2008 00:00:00 GMT

  Despite their many benefits, the take-up rate for annuities is currently low because of behavioral biases and market failures. In this paper, William Gale, J. Mark Iwry, David John and Lina Walker propose a two-year trial to allow retirees to experience the consistency, security, and simplicity of the lifetime income stream guaranteed by annuities.

• Presidential Candidates Should Address Looming Budget Deficits

  Mon, 26 May 2008 00:00:00 GMT

  With Congress poised to approve a budget blueprint that offers no relief for long-term deficit woes, Isabel Sawhill says that it’s time for presidential candidates to discuss ways to reshape the nation’s fiscal priorities and return to a more responsible path. Right now, she writes, little is being done to prevent a disaster.

• Facing the Music: The Fiscal Outlook at the End of the Bush Administration

  Thu, 08 May 2008 00:00:00 GMT

  
  Alan J. Auerbach, Jason Furman and William Gale discuss the most recent Congressional Budget Office baseline projection, and use it to examine the causes of the fiscal decline since 2000 and the medium- and longer-term fiscal outlook.

• Budget Chaos: What, Me Worry?

  Mon, 07 Apr 2008 00:00:00 GMT

  
  As the baby boomers begin to retire this year, the burden of Social Security, Medicare and Medicaid will grow relentlessly. With more people in the programs and more expensive benefits, the nation will quickly encounter a budget disaster. Bill Frenzel and Ron Haskins say that dramatic reforms are needed to avoid budget chaos for future generations.

• Taking Back our Fiscal Future

  Tue, 01 Apr 2008 00:00:00 GMT

  
  Unsustainable deficits in the federal budget threaten the health and vigor of the American economy. When the next president and Congress take office in January 2009, they will face one crucial question that has been almost absent from the current election campaign: how to close the enormous gap between projected federal spending and revenues.

• How To Take Back Our Fiscal Future

  Mon, 31 Mar 2008 10:30:00 GMT

  Event Information:
  

  • March 31, 2008, 10:30 AM to 12:00 PM
  
  

  Some of the nation’s top economists and budget policy experts presented a new paper arguing that the first step toward establishing budget responsibility is to reform the budget decision process so that Social Security, Medicare and Medicaid—the major drivers of escalating deficits—are no longer on auto-pilot.

• Budget Crisis, Entitlement Crisis, Health Care Financing Problem—Which Is It?

  Tue, 06 Nov 2007 00:00:00 GMT

  Henry Aaron raises questions about the health-care budget and finding solutions to this long term problem.

• Federal Reserve Board Economist Douglas Elmendorf Named Brookings Senior Fellow

  Fri, 05 Oct 2007 19:07:35 GMT

  News Release (5/25/07)

• Why the 2005 Social Security Initiative Failed, and What it Means for the Future

  Fri, 21 Sep 2007 00:00:00 GMT

  
  President Bush made Social Security reform his top domestic priority in 2004. In this paper, Brookings's William Galston examines why the president's proposal failed and the politics of Social Security reform. 

• Coping with Demographic Uncertainty

  Mon, 17 Sep 2007 00:00:00 GMT

  Paper by Jason Furman (September 2007)

• Saving Social Security : A Balanced Approach, Revised Edition

  Mon, 01 Aug 2005 00:00:00 GMT

  
  &The debate about reforming Social Security has become increasingly ideological. Scare tactics and unrealistic promises have become the norm. Diamond and Orszag bring some welcome realism and decency to the debate. They show exactly where the current

• Social Security Smorgasbord? Lessons from Sweden's Individual Pension Accounts

  Wed, 01 Jun 2005 00:00:00 GMT

  Policy Brief #140, by R. Kent Weaver (June 2005)

• Improving Retirement Security

  Thu, 19 May 2005 00:00:00 GMT

  Testimony by Peter R. Orszag, House Committee on Ways and Means (5/19/05)

• President Bush's Social Security Privatization Plan: Will You and Your Family Be Worse Off?

  Fri, 13 May 2005 00:00:00 GMT

  Testimony by Peter R. Orszag, Senate Democratic Policy Committee (5/13/05)

• Social Security Reform

  Tue, 26 Apr 2005 00:00:00 GMT

  Testimony by Peter R. Orszag, Senate Committee on Finance (4/26/05)

• Borrowing from Future Social Security Benefits: The Administration's Proposal for Individual Accounts

  Wed, 09 Feb 2005 00:00:00 GMT

  Testimony by Peter R. Orszag, House Committee on the Budget (2/9/05)

• The Wrong Way to Fix Social Security

  Fri, 28 Jan 2005 00:00:00 GMT

  Testimony by Peter R. Orszag, Democratic Policy Committee (1/28/05)

• Strengthening Retirement Security

  Wed, 10 Mar 2004 00:00:00 GMT

  Testimony by Peter R. Orszag (3/10/04)

• Pension Reform and Saving

  Mon, 05 Jan 2004 00:00:00 GMT

  Paper by Barry P. Bosworth and Gary Burtless (1/5/04)

• Supply-Side Consequences of Social Security Reform: Impacts on Saving and Employment

  Thu, 01 Jan 2004 00:00:00 GMT

  Paper by Barry Bosworth and Gary Burtless, Center for Retirement Research at Boston College (January 2004)

• Budget Deficit and Entitlements: The Grand Delusion

  Wed, 15 Oct 2003 00:00:00 GMT

  Opinion by Henry J. Aaron (10/15/03)

• Pension Reform and Incentives for Saving and Retirement

  Sat, 01 Feb 2003 00:00:00 GMT

  A paper by Barry P. Bosworth and Gary Burtless ((1/29/2003)

• Social Security Reform and the Final Report of the President's Commission to Strengthen Social Security

  Thu, 03 Oct 2002 00:00:00 GMT

  Testimony before the Senate Finance Committee on Social Security Reform and the Final Report of the President's Commission to Strengthen Social Security by Peter R. Orszag, Senior Fellow, the Brookings Institution, October 3, 2002

• An Assessment of the Proposals of the President's Commission to Strengthen Social Security

  Tue, 18 Jun 2002 00:00:00 GMT

  Paper by Peter Orszag, Senior Fellow, and Peter A. Diamond, The Brookings Institution, June 14, 2002

• Voluntary Individual Accounts: The Lessons from the U.K. Experience

  Tue, 31 Jul 2001 00:00:00 GMT

  Testimony by Peter R. Orszag, Senior Fellow, The Brookings Institution, before the United States House Committee on Ways and Means, Subcommittee on Social Security, July 31, 2001

• Distributional Impact of Social Security Reforms: Summary

  Tue, 01 Aug 2000 00:00:00 GMT

  A paper by Barry Bosworth, Gary Burtless, and Claudia Sahm (8/22/2000)

• Living Longer: The Challenges of an Aging Population

  Thu, 25 May 2000 00:00:00 GMT

  Event Information:
  

  • May 25, 2000 at 12:00 AM

• The Effects of Social Security Reform on Saving, Investment, and the Level and Distribution of Worker Well-Being

  Sat, 01 Jan 2000 00:00:00 GMT

  The Effects of Social Security Reform on Saving, Investment, and the Level and Distribution of Worker Well-Being

• Lifetime Earnings Patterns, the Distribution of Future Social Security Benefits, and the Impact of Pension Reform

  Wed, 01 Dec 1999 00:00:00 GMT

  Center for Retirement Research at Boston College

• Restructuring Social Security Taxes

  Tue, 01 Dec 1998 00:00:00 GMT

  Policy Brief #40, by Michael Kremer (December 1998)

• Social Security Reform in a Global Context

  Sun, 01 Jun 1997 00:00:00 GMT

  Paper by Barry P. Bosworth and Gary Burtless (6/97)

• Privatizing Social Security: The Troubling Trade-Offs

  Sat, 01 Mar 1997 00:00:00 GMT

  Policy Brief #14, by Gary Burtless and Barry Bosworth (March 1997)