Social Security Reform: An Analysis of Problems Facing the American Social Security System, The Chilean Model for Pension Reform, and the Political Feasability of Reform in the United States
Date
2001
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Haverford College. Department of Political Science
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Thesis
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Award
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eng
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Haverford users only
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Abstract
In the past year the Social Security Administration (SSA), the Federal Reserve Bank, the World Bank, President Clinton, Vice President Gore, and President-elect Bush have all expressed the need to "save" Social Security. The seeming crisis is due in large part to what is termed the graying of the nation, the increased proportion of retirement aged individuals. a For the Social Security program to fulfill its goals of protecting seniors from poverty by providing a retirement income and insuring a retirement for future generations, the system requires dramatic change. The ultimate goal of this paper is to evaluate the proposed solutions to the Social Security problem, focusing specifically on creating individual retirement accounts and therefore creating an individual property right to Social Security. After focusing on the problems facing Social Security, the paper will analyze the Chilean private pension system as a model for US reform, look at public opinion on Social Security reform, and finally attempt to forecast the political feasibility of the proposed policy.