Jump to ContentJump to Main Navigation
Social SecurityA Fresh Look at Policy Alternatives$
Users without a subscription are not able to see the full content.

Jagadeesh Gokhale

Print publication date: 2010

Print ISBN-13: 9780226300337

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226300368.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 23 October 2019

Liberal Proposal 2 By Peter A. Diamond and Peter R. Orszag

Liberal Proposal 2 By Peter A. Diamond and Peter R. Orszag

“A Balanced Approach”

Chapter:
(p.184) Chapter Nine Liberal Proposal 2 By Peter A. Diamond and Peter R. Orszag
Source:
Social Security
Author(s):

Jagadeesh Gokhale

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226300368.003.0009

Peter A. Diamond and Peter R. Orszag, are both prominent and highly respected economists. Both have made wide-ranging contributions in the areas of fiscal policy and social insurance including to the Social Security reform debate. The two economists collaborated to produce a detailed Social Security reform proposal in the year 2003. They explicitly acknowledge that the program faces long-term financial shortfalls and that a resolution of its future financial problems would be easier if actions are taken earlier rather than later. This is unlike many on the political left who continue to deny or ignore Social Security's structural financial imbalance. They believe that changes in socioeconomic conditions since the last major Social Security reforms in 1983 have made many of the program's features obsolete and in need of adaptation. The liberal approach is rooted in preserving the “guaranteed” status of a base level of Social Security benefits—a principle that the Diamond-Orszag plan largely adheres to. They promote their approach as a balanced division of adjustment costs between tax increases and benefit reductions.

Keywords:   Peter A. Diamond, Peter R. Orszag, Social Security, reform debate, proposal, economists

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.