Tag: social security budget
Headlines on CNN characterized Social Security’s disability process as “broken.” That assessment is heartbreaking, but also the result of purposeful neglect. For those who view government as an intrusion, the strategy has been to frustrate people where they interact with government. And most people interact with the federal government in one of two places –…
Abstract We build a general equilibrium model with endogenous saving, labor force participation, work hours and Social Security benefit claiming, in which overlapping generations of individuals face income, survival, and health expenditure risks in incomplete markets. We use the model to study the impact of three Social Security reforms: reductions in benefits and payroll taxes,…
