The Social Security Fix

Abstract

Last January 20, the National Commission on Social Security Reform issued its longawaited report on Social Security’s deeply troubled finances and some proposals for &dquo;realistic, long-term reforms to put Social Security back on a sound financial footing.&dquo; These recommendations, which were subsequently enacted by Congress and signed into law by the President, with relatively minor changes, (summarized in the box on page 68) represent as closely as possible a consensus of the conflicting views of leaders in Congress, the White House, and the diverse interest groups represented on the Commission in short, a compromise. To me, the work of the National Com-