Class Thirteen -- January 21, 2016

With today's class, we will turn our attention to entitlement reform and related topics. We will begin our discussion with two Supreme Court cases involving Social Security. The first upholding the program's constitutionality and the second dealing with Congress's authority to make benefit changes (and whether taxpayers acquire a property interest in their future Social Security benefits). We will then discuss briefly Chapter 13 of Fiscal Challenges, in which John Harrison explores New Property, Entrenchment and the Fiscal Constitution. Next, please take a look at the eight-page portion of the CBO's Long Term Budget Outlook that addresses the long-term future of Social Security. Also, take a look at the CRFB's one-page primer on the Social Security Disability Insurance (SSDI) program, an important and sometimes-overlooked part of the Social Security program. Finally, please review the CFRB's Social Security "Reformer" website and devise your own solution to problems facing Social Security: http://crfb.org/socialsecurityreformer/. Team Assignment (Teams B, D,F & J): Please write a short memorandum (3-5 pages), presenting and defending a joint team plan to reform Social Security. The plan should have unanimous approval of group members.