The Future of Social Security: Principles to Guide Reform

Abstract

Reform of the Social Security system appears inevitable. The only questions are how and when. This Article discusses the principles that should guide reform. It begins by describing Robert Ball's "nine guiding principles" underlying the current Social Security system. It then identifies the seven principles that should guide reform of the system. The principles call for retaining Social Security's fundamental structure but gradually introducing changes on both the revenue and benefit side so as to distribute the burden of reform widely across and within generations. Beyond that, the principles offer considerable flexibility in the final details of reform.

Keywords: Social Security Reform

JEL Classification: H55