Can we shore up Social Security and grow the economy?
By 2035, the Social Security trust funds will be exhausted, automatically triggering a 20 to 25 percent across-the-board benefit cut under current law. A thoughtful Social Security reform plan must be in line not only to prevent insolvency but go beyond simply assuring actuarial soundness by also improving retirement security and economic growth by promoting work, investment, and fiscal sustainability. In the attached paper by Marc Goldwein, Maya MacGuineas and Chis Towner for Committee For a Responsible Federal Budget propose a Pro-Growth Social Security Reform framework, which would shore up Social Security and grow the economy at a faster pace. Read their paper here…
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