On December 21, 2001, the President’s Commission to Strengthen Social Security issued a report that outlines three possible solutions to the long-term financial imbalance of the Social Security system. Each proposal includes a system of voluntary personal accounts. At this seminar, Peter Diamond, a professor of economics at the Massachusetts Institute of Technology, will critique the report. Diamond argues that personal accounts are not necessary to shore up the finances of the Social Security system and, in fact, would be detrimental. Olivia S. Mitchell–a professor of insurance and risk management in the Wharton School at the University of Pennsylvania and a member of the Social Security commission–and AEI economist Eric M. Engen will respond and will provide some of their own views on reforming Social Security.
|9:15||Introduction:||Kevin A. Hassett, AEI|
|Speaker:||Peter Diamond, Massachusetts Institute of Technology|
|Panelists:||Olivia S. Mitchell, University of Pennsylvania|
|Eric M. Engen, AEI|