Fixing Social Security

The Politics of Reform in a Polarized Age

By: R. Douglas Arnold

Narrated by: Graham Rowat

Since its establishment, Social Security has become the financial linchpin of American retirement. Yet demographic trends—longer lifespans and declining birthrates—mean that this popular program now pays more in benefits than it collects in revenue. Without reforms, eighty-three million Americans will face an immediate benefit cut of twenty percent in 2034. How did we get here and what is the solution? In Fixing Social Security, R. Douglas Arnold explores the historical role that Social Security has played in American politics, why Congress has done nothing to fix its insolvency problem for three decades, and what legislators can do to save it.

What options do legislators have as the program nears the precipice? They can raise taxes, as they did in 1977, cut benefits, as they did in 1983, or reinvent the program, as they attempted in 2005. Unfortunately, every option would impose costs, and legislators are reluctant to act, fearing electoral retribution. Arnold investigates why politicians designed the system as they did and how between 1935 and 1983 they allocated—and reallocated—costs and benefits among workers, employers, and beneficiaries. He also examines public support for the program, and why Democratic and Republican representatives, once political allies in expanding Social Security, have become so deeply polarized about fixing it.

©2022 Princeton University Press (P)2022 Tantor

Profoundly important reading

This is a book that I can’t help listening to again and again. If I could force politicians to read one book, this might be it. It is written in a style that leaves no doubt that their is no bias or agenda other that informing the reader of the need for responsible action by everyone.