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Should the Budget Be Changed to Exclude the Cost of Individual Accounts?

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Publication Date: December 2004

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Peter R. Orszag; William G. Gale; Jason Furman

Funder(s): Center on Budget and Policy Priorities (Washington, D.C.)

Funder(s): Center on Budget and Policy Priorities (Washington, D.C.)

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Public finance)

Keywords: Economic projections; Economic inequality; Senior citizen; Retirement

Type: Report

Abstract:

Proposals to replace part of Social Security with individual accounts are now a focus of attention, with the President expressing a strong desire to push forward on creating individual accounts within Social Security.  This paper considers the appropriate budgetary treatment of proposals to create such accounts.