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- Title
Borrowing to Save: A Critique of Recent Proposals to Partially Privatize Social Security.
- Authors
Dattalo, Patrick
- Abstract
Concern over Social Security's forecasted long-run deficit is occurring at a time when the program has a short-term surplus. One proposed strategy to address this forecasted deficit is to allow the investment of a portion of payroll taxes into private savings accounts (PSAs). The author analyzes recent proposals for PSAs and concludes that PSAs are more likely to be a problem than a solution. Paradoxically, PSAs require the government to borrow to encourage current workers to save. The author recommends resources to help social workers remain informed about proposed program reforms and prepared to advocate for the concept of social insurance.
- Subjects
UNITED States; SOCIAL security individual investment accounts; RETIREMENT planning; EMPLOYEE savings plans; SAVINGS accounts; SOCIAL security
- Publication
Social Work, 2007, Vol 52, Issue 3, p233
- ISSN
0037-8046
- Publication type
Article
- DOI
10.1093/sw/52.3.233