Reimagining Social Security

As Social Security approaches 90 years since its inception, policymakers face a critical crossroads. With the government projected to borrow more than $4 trillion by 2033 to cover Social Security's payroll tax deficit, the United States urgently needs to rethink this old age income transfer program. Not just to make it sustainable for today's retirees and future generations, but also to protect younger Americans from undue debt burdens and taxes that threaten their prosperity. The looming threat of indiscriminate benefit cuts when the so-called trust fund is exhausted and the rising cost of benefits increasing future shortfalls underscore the importance of proactive policy action. Reimagining Social Security offers an exploration of the paths forward, drawing on the experiences of Canada, Germany, New Zealand, and Sweden. By examining how these nations have navigated their own retirement policy challenges, this book provides the United States with a wealth of insights and innovative strategies to inform structural Social Security reforms within the context of the broader retirement landscape. Reimagining Social Security includes perspectives from a diverse group of US and international experts who delve into the shared challenges of retirement policy. Through transcribed conversations and original policy analyses, these experts highlight opportunities to modernize Social Security in ways that not only preserve economic security for vulnerable seniors but also promote individual liberty, reduce work disincentives, and foster economic growth. This volume is a crucial resource for anyone invested in the future of America's younger generations and the sustainability of America's largest income transfer program.