Date of Award
Spring 2017
Degree Name
Bachelor of Science (BS)
Abstract
This study examines the sustainability crisis facing the United States' social security system, particularly the Old Age, Survivor, and Disability Insurance (OASDI) fund, predicted to deplete by 2035 due to demographic shifts and increased retiree claims. It evaluates the effectiveness of current policies and explores reform alternatives through census data analysis and correlation with historical social security expenditures. Key findings highlight a mismatch between demographic factors and social security costs, raising questions about the system's future viability. The research assesses various reform options, including adjustments to contribution rates, benefits, retirement eligibility, and beneficiary criteria, based on economist Sagiri Kitao's suggestions for achieving sustainable social security. The study explores the behavioral and ethical implications of these reforms on the U.S. workforce, emphasizing the need for balanced, informed policy changes. It concludes that proactive, equitable social security reform is essential for maintaining economic viability and ethical integrity, advocating for solutions that minimize adverse impacts on taxpayers while ensuring system sustainability.
Recommended Citation
Bedard, Phillip, "Social Security: What Needs to Change?" (2017). Gabelli School of Business Honors Thesis Collection. 127.
https://research.library.fordham.edu/gabelli_thesis/127
