Social Security is not sustainable without reform. Simply put, it cannot pay promised future benefits with current levels of taxation. Yet raising taxes or cutting benefits will only make a bad deal worse. At the same time, workers have no ownership of their benefits, and Social Security benefits are not inheritable. This is particularly problematic for low-wage workers and minorities. Perhaps most important, the current Social Security system gives workers no choice or control over their financial future.

More on Social Security's Financial Crisis

Commentary

Think Greece Can’t Happen Here? You’re Wrong

By Michael D. Tanner. New York Post (Online). July 6, 2015.

Chris Christie Takes on Entitlements

By Michael D. Tanner. Real Clear Policy. April 14, 2015.

Medicare and Social Security Tabs Coming Due

By Michael D. Tanner. Reason. February 6, 2015.

Cato Studies

SSDI Reform: Promoting Gainful Employment while Preserving Economic Security

By Jagadeesh Gokhale. Policy Analysis No. 762. October 22, 2014.

The Rising Cost of Social Security Disability Insurance

By Tad DeHaven. Policy Analysis No. 733. August 6, 2013.

Spending Beyond Our Means: How We Are Bankrupting Future Generations

By Jagadeesh Gokhale. White Paper. February 13, 2013.

Articles

Social Security Reform: Does Privatization Still Make Sense?

Jagadeesh Gokhale. Harvard Journal on Legislation. Vol. 50. 2013.

Retiring with Financial Security and Dignity: Social Security, the Commission, and Markets

William G. Shipman. IRET Policy Bulletin. May 25, 2011.

Measuring Social Security’s Financial Outlook Within an Aging Society

Jagadeesh Gokhale. TIAA-CREF: Policy Brief. October 2005.

Cato Reviews & Journals

Reforming SSDI for the 21st Century

A. Bentley Hankins and Jeffrey D. Joy. Regulation. Summer 2015.

Deficits, Debt, and the Entitlement Crisis

Policy Report. May/June 2015.

A New Approach to SSDI Reform

Jagadeesh Gokhale. Regulation. Fall 2013.

Events

Going for Broke: Deficits, Debt, and the Entitlement Crisis

Featuring Michael D. Tanner. June 16, 2015. Book Forum.

Rising Costs of Social Security Disability

Featuring Tad DeHaven, Jagadeesh Gokhale, and Chris Edwards. August 20, 2013. Capitol Hill Briefing.

Disability Insurance: The New Welfare?

Featuring Jagadeesh Gokhale and Michael D. Tanner. June 19, 2013. Policy Forum.