Would Saving U.S. Social Security Raise National Saving?
July 1, 1999
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Order a Print CopyDisclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary
Analysts agree that raising national saving is one of the key objectives of social security reform in the United States. Hence, to judge the merits of proposals requires a comparison of saving responses. The paper outlines the difficulties involved in making those comparisons, which arise from the unsustainability of the current social security system and the uncertainty regarding the use of projected budget surpluses. Building on previously developed arguments, it discusses three typical reform plans and also draws some conclusions about the relationship between social security reform and the long-run sustainability of fiscal policy.
Subject: Budget planning and preparation, Extra-budgetary funds, Financial institutions, National accounts, Payroll tax, Private savings, Public financial management (PFM), Securities, Taxes
Keywords: budget, Budget planning and preparation, budget surplus, Extra-budgetary funds, government activity, National saving, on-budget balance, Payroll tax, PDP, Private savings, revenue, Securities, Social Security, surplus, surplus money, surpluses in the Trust Funds, United States
Pages:
23
Volume:
1999
DOI:
Issue:
007
Series:
Policy Discussion Paper No. 1999/007
Stock No:
PPIEA0071999
ISBN:
9781451971484
ISSN:
1564-5193
