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dc.contributor.authorGokhale, Jagadeesh
dc.contributor.authorSmetters, Kent
dc.date.accessioned2007-04-24T20:27:07Z
dc.date.available2007-04-24T20:27:07Z
dc.date.issued2005-01
dc.identifier.urihttps://hdl.handle.net/2027.42/50526
dc.description.abstractThe U.S. Social Security system has helped keep many retirees out of poverty. However, according to the Social Security and Medicare Trustees, Social Security faces a future financial shortfall of $10.4 trillion in present value. This enormous imbalance has received little attention in public debates about Social Security. Instead, the media and policymakers continue to focus on the program’s trust fund and several other ad-hoc measures that create a misleading impression of the size of Social Security’s financial problem. Although the Social Security Trust Fund is not projected to be exhausted until 2042, Social Security’s $10.4 trillion present value imbalance is accruing interest and will grow by $600 billion during 2004 alone. The current cash-flow federal budget, however, is biased against reforms that would improve Social Security’s finances. As shown herein, a new federal accounting system would remove this bias.en
dc.description.sponsorshipSocial Security Administrationen
dc.format.extent455505 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen
dc.publisherMichigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104en
dc.relation.ispartofseriesWP 2005-093en
dc.titleMeasuring Social Security’s Financial Problemsen
dc.typeWorking Paperen
dc.subject.hlbsecondlevelPopulation and Demography
dc.subject.hlbtoplevelSocial Sciences
dc.contributor.affiliationotherThe Wharton School and NBERen
dc.contributor.affiliationumcampusAnn Arboren
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/50526/1/wp093.pdfen_US
dc.owningcollnameRetirement Research Center, Michigan (MRRC)


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