"In their well-written and thought-provoking book, Diamond and Orszag convincingly argue that sound reform will require a balance of benefit reductions and revenue enhancements, while paying special attention to those who are most in need of the social insurance that Social Security provides. Although I favor a different type of reform, Saving Social Security is a must-read for those who want to understand the roots of the Social Security crisis and potential strategies for long-term reform. " --Fred Goldberg, Commissioner of the IRS, 1989-1992 "Proposes a reform plan for America's social security system that would save it both from its financial problems and those who would do away with it... Exhaustively researched and deeply entrenched in practical issues and mathematical calculations... a highly recommended ray of hope against a looming national crisis." -- Wisconsin Bookwatch, 7/1/2004 "Written by two of the most influential thinkers in the Social Security community, this book makes an extremely important contribution to the field by filling in the details of one of the main approaches to reforming the US underfunded public pension plan. The Diamond Orszag plan serves the useful purpose of illustrating what it would take to make the Social Security system structurally sound while keeping it primarily pay-as-you-go. The authors should be given credit for not only restoring balance, but also making the program structurally sustainable an important objective that most other non-account plans fail to achieve. Whether one agrees with reform plan or not, what is most important is that this book contains an honest, transparent and comprehensive approach to making the much needed reforms to the Social Security program. For this reason alone, it deserves serious consideration. I hope that it will improve the tenor of the discussion, and it would certainly be unwise to underestimate the impact this book will have on the ongoing Social Security reform debate." --Maya C. MacGuineas, Executive Director, New America Foundation, Journal of Pensions, Economics, and Finance, 7/1/2004 "In their new book, Saving Social Security: A Balanced Approach (Brookings Institution Press), for example, Peter A. Diamond of M.I.T. and Peter R. Orszag of the Brookings Institution outline a plan to preserve the best elements of sensible reforms, like indexing benefits to rising life expectancy and collecting some payroll taxes above the earnings cap." --Alan B. Krueger, Princeton University, The New York Times, 2/5/2004
About the Author
Peter A. Diamond is an Institute Professor at the Massachusetts Institute of Technology. His recent books include Social Security Reform, The 1999 Lindahl Lectures (Oxford University Press, 2002) and Taxation, Incomplete Markets, and Social Security: The 2000 Munich Lectures(MIT Press, 2002). He is a former president of both the American Economic Association and the National Academy of Social Insurance. Peter R. Orszag is director of the U.S. Office of Management and Budget under President Obama. His previous positions include director of the Congressional Budget Office and Joseph A. Pechman Senior Fellow in Economic Studies at the Brookings Institution. He is also a research professor at Georgetown University and a codirector of the Tax Policy Center. He served as special assistant to the president for economic policy during the Clinton administration.