The Real Deal: The History and Future of Social Security

By Sylvester J. Schieber and John B. Shoven

Book Overview

Will the Social Security system founder as millions of baby boomers enter their retirement years? Is the frightening vision of an impoverished old age a glimpse into the real future for Americans of the next generation? The authors of this book put debates about Social Security reform into historical perspective, consider various reform ideas, and elaborate a proposal to ensure that the system can continue to meet the claims of the retired and the disabled. Sylvester J. Schieber and John B. Shoven, leading experts on retirement issues, set forth a carefully considered plan to change the way we finance Social Security and thereby secure its future viability. Exploring the history of the Social Security system from its origins during the Depression to its current troubled prospects, Schieber and Shoven analyze the program's economic structure and introduce the remarkable personalities who influenced its evolution. The authors show how Social Security today differs from the program Franklin D. Roosevelt envisioned and how the shift to pay-as-you-go funding has led to the system's current problems. Seen in historical context, some reform approaches are revealed as a renewal of attempts to fund Social Security through means that have repeatedly failed. The authors argue for mandatory private retirement savings accounts for workers--a proposal that would lighten retirement security burdens for future generations, avoid tax increases, and preserve the system's progressivity. This book is essential reading not only for policymakers but for anyone else who wishes to understand what Social Security reform will mean for us as a nation and as individuals.

• Format: Paperback
• Language: English
• ISBN: 0300081499
• ISBN13: 9780300081497
• Release Date: September 1999
• Publisher: Yale University Press
• Length: 480 Pages
• Weight: 1.75 lbs.
• Dimensions: 1.2" x 6.0" x 9.2"

Customer Reviews

Surprising information

I was surprised by the detailed information in this book. Finally I own a single-volume play-by-play historical account of how vote-hungry politicians in the 40's, 50's, 60's, 70's and 80's transformed the Social Security program from a good idea into the pathetic ponzi scheme that it is today.

Don't bother me with the facts - I'm into fantasy...

The authors do an excellent job of presenting the historical and demographic facts behind Social Security. Social Security is an intergenerational welfare program. Money is taken from working people, and given to retirees. There is no "trust fund" - no magic pile of money somewhere to fund your retirement. Any excess Social Security taxes have been spent by the government for something else. The generational wave (aka "baby boomers") will be retiring soon. That means there will be a lot more retirees - and a lot fewer working people to pay Social Security taxes. There will not be enough Social Security taxes coming in to pay retirees. We have three options: Reduce payments to retirees. Increase taxes on workers. Borrow the money from somewhere. Anyone who reads this book, and doesn't believe Social Security is in crisis, is not interested in facts - they are just looking for "a good fantasy". Peter Simmons Author - The Next Crash

If You Really Want to Understand the Issues ...

Read "The Real Deal: The History and Future of Social Security" if you really want to understand the issues surrounding Social Security and what is at stake for our country. The media and political establishment nowhere present the "Real Deal" about what is wrong with Social Security. Only by learning its history (did you know that Social Security initially was intended by FDR to be a funded system?) can one really understand how we got to where we are now. Be informed - read "The Real Deal: The History and Future of Social Security" by Schieber and Shoven.

You Must Buy This Book!

Syl Schieber does it again! I've heard Dr. Schieber's fascinating presentations many times over the years, and this book provides further details to bolster his and Shoven's arguments. The bottom line is this: America is woefully unprepared for the demographic tsunami that looms in the next century, when 70-million-plus Baby Boomers hit old age. Without taking the modest and requisite steps that Schieber and Shoven recommend in their book, our country is likely suffer massive and unnecessary social dislocation. This is a must-read. I bought two copies myself.