Murray State University

The Social Security Dilemma: An Analysis

Institution

Murray State University

Abstract

Currently, there is an ongoing debate concerning the future of Social Security. Almost everyone recognizes that if something is not done to change the program’s present course, it will soon become insolvent. There are several possible reforms which have been proposed. A few of the prospective reforms include: increasing the eligible amount of taxable earnings, decreasing benefits, increasing the retirement age, and partially privatizing the system. This paper examines each of the potential changes and weighs its merits and shortcomings. Finally, the paper draws a conclusion about the combination of changes that appears to be the least intrusive on society and most feasible in terms of the current time constraints.

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The Social Security Dilemma: An Analysis

Currently, there is an ongoing debate concerning the future of Social Security. Almost everyone recognizes that if something is not done to change the program’s present course, it will soon become insolvent. There are several possible reforms which have been proposed. A few of the prospective reforms include: increasing the eligible amount of taxable earnings, decreasing benefits, increasing the retirement age, and partially privatizing the system. This paper examines each of the potential changes and weighs its merits and shortcomings. Finally, the paper draws a conclusion about the combination of changes that appears to be the least intrusive on society and most feasible in terms of the current time constraints.