Solutions Briefs

Saving Social Security

February 12, 2024

With the US national debt ballooning over $34 trillion, annual deficits projected to average $2 trillion for the next 10 years, and debt servicing demanding a growing share of the federal budget, US fiscal policy needs urgent and comprehensive debt reduction and reform. Saving Social Security is an important part of this effort. This Solutions Brief examines the importance of Social Security in Americans’ retirement planning, its impact on the federal budget, and options for reforming the program to save it for current and future retirees.