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Social Security: Restoring Long-Term Solvency Will Require Difficult Choices

T-HEHS-98-95 Published: Feb 10, 1998. Publicly Released: Feb 10, 1998.
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Highlights

Pursuant to a congressional request, GAO discussed the goals of the social security program and the difficult choices that restoring its long-term solvency will require, focusing on: (1) balancing income adequacy and individual equity; (2) determining who bears risks and responsibilities; (3) choosing among various benefit reductions and revenue increases; (4) using pay-as-you-go or advance funding; and (5) deciding how much to save and invest in the nation's productive capacity.

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Economic analysisElderly personsFederal social security programsRetirement incomeFuture budget projectionsInvestment planningLabor forcePopulation statisticsRetirement benefitsSocial security benefitsSocial security taxes