A brief overview of Social Security -- Goals for Social Security reform -- Social Security's long-term deficit -- A three-part plan to shore up Social Security -- Strengthening Social Security's effectiveness as social insurance -- Implications for benefits and revenue -- Individual accounts --...

The President's Commission to Strengthen Social Security proposed three reform plans. Two, analyzed here, restore actuarial balance in the absence of individual accounts. One achieves this balance solely through benefit reductions. The other uses new dedicated revenue to cover one-third of the...