Policy Memo Assignment

  You are an economic advisor to U.S. President Joe Biden. President Biden would like to reformulate his proposals for Social Security, specifically to Old Age and Survivors Insurance (OASI), i.e. excluding Disability Insurance. What Social Security reforms do you propose, and why? Your memo should include an analysis of the economic considerations relevant to the policy recommendations you present to President Biden, drawing on our discussions in class about the theory, empirics, as well as current policy surrounding Social Security. Please be sure to use the course material to address the effect of your proposals, relative to those of President Biden, on intergenerational and intragenerational equity; labor supply; private savings; interest rates; and economic growth.