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Bencivenga Jones Paal Social Security Forum April 28

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Texas Economics Association
Texas Economics Association

TEA Professor Forum on Social Security April 28, 2010. Moderated by Jonathan Pevey, Academic Officer

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TEXAS ECONOMICS ASSOCIATION April 28, 2010
UPCOMING EVENTS ,[object Object],[object Object],[object Object],[object Object]
Longhorn Run ,[object Object],[object Object],[object Object]
TODAY’S SPEAKERS ,[object Object],[object Object],[object Object]
Social Security Dr. Valerie R. Bencivenga Spring 2010 TEA meeting April 28, 2010
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SOCIAL SECURITY SCARE TACTICS ,[object Object],[object Object],[object Object]
US FINANCIAL OBLIGATIONS (IN TRILLIONS) 2000 2006 Increase Debt $6.9 $10.4 52% Contingencies $0.5 $1.3 140% Future Obligations $13.0 $38.8 197% Social Security benefits $3.8 $6.4 Medicare Part A $2.7 $11.3 Medicare Part B $6.5 $13.1 Medicare Part D … $7.9 TOTAL $20.4 $50.5 147%
TRUST FUND ASSETS AS A PERCENTAGE OF ANNUAL EXPENDITURES
AS A PERCENTAGE OF GDP
SOCIAL SECURITY AND MEDICARE TRUSTEES REPORT, 2009: ,[object Object]
SOCIAL SECURITY IS (RELATIVELY) EASY TO REFORM ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE REAL VILLAIN: MODERN REPUBLICAN PARTY POLICIES (SEE: BRYAN JONES AND WALTER WILLIAMS, THE POLITICS OF BAD IDEAS ) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE HIGH POINT OF SUPPLY SIDE ECONOMICS YIELDED THE WORSE DECADE FOR THE US SINCE THE 1930S.
THE BEAST WAS NOT STARVED: THESE SHIFT POINTS (REAGAN, CLINTON, GW BUSH) ARE NOT QUIRKS
AN ORGY OF IRRESPONSIBILITY LOOSELY BASED ON THESE THEORIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
WHY THEN IS THE SOCIAL SECURITY PROBLEM SO HARD TO SOLVE? ,[object Object],[object Object],[object Object],[object Object]
PLAN ,[object Object],[object Object],[object Object],[object Object],[object Object]
THE GOVERNMENT BUDGET CONSTRAINT ,[object Object],[object Object]
PERIOD-BY-PERIOD BUDGET CONSTRAINT OF THE GOVERNMENT ,[object Object],[object Object],[object Object],[object Object]
PRESENT VALUE BUDGET CONSTRAINT ,[object Object],[object Object],[object Object]
THE VALUE OF GOVERNMENT DEBT ,[object Object],[object Object],[object Object],[object Object],[object Object]
IMMIGRATION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
DETAILS OF THE PROPOSAL BY AMITY SHLAES ,[object Object],[object Object],[object Object]
DETAILS OF THE PROPOSAL BY AMITY SHLAES ,[object Object],[object Object],[object Object],[object Object],[object Object]
DETAILS OF THE PROPOSAL BY AMITY SHLAES ,[object Object],[object Object],[object Object],[object Object],[object Object]
COMMENTS: SIDE EFFECT OF THE PROPOSAL ,[object Object],[object Object],[object Object],[object Object]
COMMENTS: SIDE EFFECT OF THE PROPOSAL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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