Debate over Social Security’s Impact on the Federal Deficit

Over the past week, Andrew Biggs of the American Enterprise Institute—and friend of the Foundation—and Michael Hiltzik of the Los Angeles Times have engaged in a debate over whether Social Security contributes to the federal deficit. The debate started over comments made by former Treasury Secretary Timothy Geithner in his new book Stress Test. Specifically over his disagreement with the White House over the statement that shortfalls in Social Security doesn’t add a dime to the deficit. The former said it does; the latter said it doesn’t. Andrew Biggs, in a number of posts—here, here, and here—provides evidence as to why shortfalls do impact the federal deficit.

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