New in Paperback. While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans for reforming it. Peter A. Diamond and Peter R. Orszag, two of the nation's foremost economists, propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it. Since the publication of the first edition of this book in 2004, the Social Security debate has moved to the center of the domestic policy agenda. In this updated edition of Saving Social Security, the authors analyze the Bush Administration's proposal for individual accounts and discuss the so-called "price indexing" proposal to restore long-term solvency through changing how initial benefits would be calculated. Soc ial Security is essis essential reading for policymakers involved in reform, analysts, students, and all those interested in the fate of this safeguard of American lives. "An honest, transparent and comprehensive approach to making the much needed reforms to the Social Security program."—Journal of Pensions, Economics, and Finance
 "Very accessible presentation of facts, analysis of underlying problems, comparison of opinions, and argument for proposed reforms."—Future Survey Exhaustively researched and deeply entrenched in practical issues and mathematical calculations... a highly recommended ray of hope against a looming national crisis." —Wisconsin Bookwatch "Diamond and Orszag bring some welcome realism and decency to the debate."—Robert M. Solow, Institute Professor Emeritus, Massachusetts Institute of Technology, Nobel Laureate in Economics

Saving Social Security: A Balanced Approach

Business & Money

Diamond, Peter A.

Orszag, Peter R.

Economics

Brookings Institution Press

While everyone agrees that Social Security is a vital and necessary government program, there have been widely divergent plans for reforming it. Peter A. Diamond and Peter R. Orszag, two of the nation's foremost economists, propose a reform plan that would rescue the program both from its projected financial problems and from those who would destroy the program in order to save it. vi ng Social Security's's strategy balances benefit and revenue adjustments, following the precedent set by the last major Social Security reform in the early 1980s. The authors' proposal restores long-term balance and sustainable solvency to the program without imposing additional burdens on the rest of the budget. Further, it protects disability and young survivor benefits and strengthens Social Security's protections for low earners and widows. Most important, the plan preserves the program's core social insurance role by providing a base-level of assured income to American workers and their families in time of need. To better understand the accomplishments and financial problems of Social Security, Diamond and Orszag provide background on the program, as well as on the causes of the long-term deficit. They suggest ways in which various alternative reform plans should be evaluated and explain the shortcomings of proposals to replace part of Social Security with individual accounts. Saving Social Security is essential reading for policymakers involved in reform, analysts, students, and all those interested in the fate of this safeguard of American lives.

A good deal has been done to improve the safety of Americans on their own soil since the attacks of September 11, 2001. Yet there have been numerous setbacks. The Bush administration and Congress wasted at least six months in 2002 due to partisan disagreement over a new budget for homeland security, and as one consequence, resources were slow to reach first responders across the country. Most improvements in homeland security have focused on "refighting the last war"—improving defenses against attacks similar to those the country has already suffered. Not enough has been done to anticipate possible new kinds of terrorist actions. Policymakers have also focused too much attention on the creation of a department of homeland security—rather than identifying and addressing the kinds of threats to which the country remains vulnerable. While the creation of a cabinet-level agency focusing on homeland security may have merit, the authors of this study argue that the department will not, in and of itself, make Americans safer. To the contrary, the complexity of merging so many disparate agencies threatens to distract Congress and the administration from other, more urgent security efforts. This second edition of Protecting the American Homeland urges policymakers to focus on filling key gaps that remain in the current homeland security effort: identifying better protection for private infrastructure; using information technology to share intelligence and more effectively "connect the dots" that could hold hints to possible terrorist tactics; expanding the capacities of the Coast Guard and Customs Service, as well as airline transportation security; dealing with the possible threat of surface-to-air missiles to airliners; and encouraging better coordination among intelligence agencies. While acknowledging the impossibility of preventing every possible type of terrorist violence, the authors recommend a more systematic approach to homeland security that focuses on preventing attacks that can cause large numbers of casualties, massive economic or societal disruption, or severe political harm to the nation.

Protecting the American Homeland: One Year On

Politics & Social Sciences

O'Hanlon, Michael E.

Daalder, Ivo H.

Politics & Government

Immediately after September 11, the Brookings Institution began a comprehensive, multidisciplinary project focused on the key policy challenge of these dangerous times—assessing and improving homeland defense. That intense effort produced Protecting the American Homeland, and it continues in this important new book. In Protecting the Homeland 2006/2007, Brookings foreign policy experts analyze current homeland security concerns and the adequacy (or inadequacy) of current policies designed to address them. The authors present both the big picture and the smaller components of homeland security policy that make up the whole. They make specific recommendations on intelligence reform, science and technology policy and the protection of critical infrastructure within the United States. They also look ahead to consider what dangers we should anticipate and plan for, recommending policies that will work to that end. One of the strands running through Protecting the Homeland 2006/2007 is the need to "stitch the seams" in our homeland security blanket through greater integration and coordination. The authors emphasize that the U.S. federal government must work together with key partners who have been insufficiently integrated into American homeland security activities to date. These actors include foreign governments, state and local government, and the private sector, and the coordination must occur in several different areas (e.g. border protection, finance, technology, intelligence). The U.S. government should not—indeed, it cannot—do it alone. By its very nature, homeland security is a problem that defies the usual bureaucratic boundaries. Effective homeland security policy demands intense collaboration on new issues and between organizations that have not traditionally needed each other. This book is of interest and importance to journalists, analysts, policymakers, scholars, and citizens concerned with protecting their homeland against terrorism and related dangers.

Protecting the Homeland 2006/2007

D'Arcy, Michael

Aging Gracefully gathers a collection of essays that highlight policy ideas for promoting greater retirement savings among Americans. The essays were written as part of the Retirement Security Project, which is dedicated to promoting common sense solutions to improve the retirement income prospects of millions of American workers. The project is supported by The Pew Charitable Trusts, in partnership with Georgetown University's Public Policy Institute and the Brookings Institution. The essays included in this volume address issues such as: How an "automatic 401(k)" would encourage greater savings. How better structured 401(k) investments can reduce risks and increase growth. What impact the preferential tax treatment given IRAs and 401(k) plans has on low-income families. How IRA-contribution matching by employers can encourage low- and middle-income families to save more.

Aging Gracefully: Ideas to Improve Retirement Security in America

Gale, William G.

Iwry, J. Mark

Parenting & Relationships

The Century Foundation

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