Andrew Biggs
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- Milken Institute1h 0m
Can America Afford to Retire?
Josh Barro, Andrew Biggs, Marcie Frost, Jarvis Hollingsworth, Dan Houston
A panel of public and private sector leaders, including CEOs from CalPERS and Texas Teachers Retirement System, examines the divergent financial realities of retirement affordability across defined benefit and contribution models. While current retirees enjoy record wealth, the discussion highlights critical structural vulnerabilities in public pension funding assumptions and the longevity risks facing workers in defined contribution plans. Experts propose policy interventions such as federal funding mandates, auto-enrollment mechanisms, and annuity integration to address projected solvency gaps and ensure long-term system stability.
- Milken Institute1h 0m
Entitlements: A Collision Course With Fiscal Reality
Josh Barro, Jared Bernstein, Andrew Biggs, Chris Hughes, Maya MacGuineas, Eric Schmidt, Andrew McAfee, Jonathan Zittrain, Jared King, Nancy Gertner, David Rockefeller, Anne Coughlin, Eric Schwartzman
A panel of experts including Andrew Biggs and Jared Bernstein addressed the actuarial insolvency of Social Security and Medicare, evaluating revenue increases and benefit adjustments to close the projected 75-year shortfall. The discussion extended to expanding income support through a modernized Earned Income Tax Credit while contrasting these proposals with healthcare reforms aimed at reducing drug costs and leveraging public options. Panelists concluded that political constraints and intergenerational inequities currently prevent necessary fiscal adjustments, creating a gap between public demand for services and willingness to fund them.