Although the Social Security program is currently running a surplus, the program will start to run deficits when the baby boom generation begins to retire and is therefore not financially viable in the long run. At this event, Peter Diamond, a professor at the Massachusetts Institute of Technology, and Peter Orszag of the Brookings Institution will discuss their new book Saving Social Security (Brookings Institution Press, December 2003). They will present their plan to combine tax increases and changes in the structure of Social Security benefits to eliminate financial imbalances and to make the system more progressive by lowering benefits for high-income earners and increasing benefits for low-income recipients.
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