Have you wondered if Social Security will be there when you retire? How often have you heard that Social Security is going broke? Unfortunately, it’s not just media hype. According to the Social Security Trustees’ Report, trust fund reserves will be exhausted by 2037. Without reform, Social Security’s future is inevitable. The question isn’t, “Does it need fixing?” Instead, the relevant question is, “How do we fix it?”
There are as many proposals for reform as there as political candidates and economists. This is your opportunity to enter into the debate. Here is a link (https://www.ssa.gov/policy/docs/ssb/v65n4/v65n4p3.html (Links to an external site.)) with some general information, but you should also do some of your own research as well. At least two outside resources should be used in your report.
Once you’ve looked at some of the ideas for reform, it’s time to play the Social Security Game. Enter the link below in your Internet browser and develop your own proposal for reforming Social Security: http://www.actuary.org/socialsecurity/game.html (Links to an external site.)Links to an external site. (Links to an external site.). This game will allow you to explore options for Social Security reform and their impact on the program’s solvency – both the pluses and the minuses.
Based upon your research and the results of the Social Security Game, write a report that addresses how YOU solved the Social Security crisis. Your double-spaced report should address the following:
- What specific proposals in the Social Security Game did you choose to adopt? Why?
- What are the negatives of adopting each of these proposals?
- What specific proposals in the Social Security Game did you choose to reject? Why?
- Are there other areas of Social Security reform that the game did not address that you would incorporate into your plan? What are they?
Your assignment should be 3-4 pages long, double-spaced, using 12-point font, excluding cover page, attachments, etc.
Keep in mind that, while there are no “absolutely correct” answers for these questions, this is not an opportunity for opinion alone. Grading will reflect your reasoning and critical thinking skills, your ability to integrate what you have assimilated from course material, outside research, the clarity of your response, and its appearance.