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Sunday, December 26, 2004

CBO Report on Diamond & Orszag's Plan to Save Social Security

Saving_social_security In December 2003, the Brookings Institution published a book by Peter Diamond (MIT) & Peter Orszag (Brookings Institution), Saving Social Security: A Balanced Approach:

[Diamond & Orszag] propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it. Saving Social Security’s strategy balances benefit and revenue adjustments, following the precedent set by the last major Social Security reform in the early 1980s. The authors’ proposal restores long-term balance and sustainable solvency to the program without imposing additional burdens on the rest of the budget. Further, it protects disability and young survivor benefits and strengthens Social Security’s protections for low earners and widows. Most important, the plan preserves the program’s core social insurance role by providing a base-level of assured income to American workers and their families in time of need.

Cbo_logoOn Wednesday, the Congressional Budget Office released a 57-page report, Long-Term Analysis of the Diamond-Orszag Social Security Plan (12/22/04), prepared at the request of Senator Larry Craig (R-Idaho), Chair of the Senate Special Committee on Aging.

The CBO analysis considers the impact that the proposed plan would have on the Social Security program, the federal budget, the U.S. economy, and present and future beneficiaries.

For additional documents, see:

http://taxprof.typepad.com/taxprof_blog/2004/12/cbo_report_on_d.html

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» CBO Report on SS from On the Third Hand
According to the TaxProf Blog, the CBO has released a study of Diamond & Orszag's Plan to Save Social Security. I've downloaded the 57 page report and will be looking at it over the next couple of days. It'll be interesting to see what they ... [Read More]

Tracked on Dec 26, 2004 6:49:33 PM

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