The Center for Economic and Policy Research (CEPR) celebrates the 90th birthday of one of the most essential and loved government programs ever…. The gem of American policy – Social Security!
Social Security has endured because along the way it was upheld and improved when necessary. Today, and for much of its 90 years, it is targeted as broken or in need of privatization by those who would like to end this insurance program. Neither are true. The fixes to assure the future viability of Social Security are fairly simple and the notion that this most efficient program can be privatized with a profit structure at a lower cost than what it currently costs the government to run is laughable.
Social Security is a gem in American economic policy. Let’s strengthen it and make it more generous — after all, it is retired workers who have lived with ever increasing inequality as their labor has generated vast profits for corporations and the wealthy. They deserve a stable retirement.
