Customer Reviews

The Real Deal: The History and Future of Social Security

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I was surprised by the detailed information in this book. Finally I own a single-volume play-by-play historical account of how vote-hungry politicians in the 40's, 50's, 60's, 70's and 80's transformed the Social Security program from a good idea into the pathetic ponzi scheme that it is today.

The authors do an excellent job of presenting the historical and demographic facts behind Social Security.

Social Security is an intergenerational welfare program.

Money is taken from working people, and given to retirees.

There is no "trust fund" - no magic pile of money somewhere to fund your retirement.
Any excess Social Security taxes have been spent by the government for something else.

The generational wave (aka "baby boomers") will be retiring soon.

That means there will be a lot more retirees - and a lot fewer working people to pay Social Security taxes.

There will not be enough Social Security taxes coming in to pay
retirees.

We have three options:

Reduce payments to retirees.
Increase taxes on workers.
Borrow the money from somewhere.

Anyone who reads this book, and doesn't believe Social Security is in crisis, is not interested in facts - they are just looking for "a good fantasy".

Peter Simmons Author - The Next Crash

Read "The Real Deal: The History and Future of Social Security" if you really want to understand the issues surrounding Social Security and what is at stake for our country. The media and political establishment nowhere present the "Real Deal" about what is wrong with Social Security. Only by learning its history (did you know that Social Security initially was intended by FDR to be a funded system?) can one really understand how we got to where we are now.

Be informed - read "The Real Deal: The History and Future of Social Security" by Schieber and Shoven.

This book presents a history of Social Security, some of which is useful but readily available elsewhere. As for its conclusions and predictions, they are available elsewhere also. They are nothing more the conventional wisdom.

That is to say, this work is a litany of dire assertions that are pervasive in the media, disturbing--and entirely mistaken. Such assertions are conditioned more by political ideology than by economic fact. The economy of the United States is entirely able to maintain a system of comprehensive social insurance; all that is required is the political will to do so.

In calling for privatization, the authors ignore that the US at one time DID have a completely private system. The failure of that system is why we have Social Security. Before accepting the rosy scenario of private accounts, one should ask about inflation protection, spousal benefits, Medicare, Disability benefits, and Survivors' benefits--most, if not all, of which would disappear without a public system.

The former employees of Enron are far better equipped than these authors to comment regarding the comparative guarantees of safety offered by private accounts vs. Social Security.

Syl Schieber does it again! I've heard Dr. Schieber's fascinating presentations many times over the years, and this book provides further details to bolster his and Shoven's arguments. The bottom line is this: America is woefully unprepared for the demographic tsunami that looms in the next century, when 70-million-plus Baby Boomers hit old age. Without taking the modest and requisite steps that Schieber and Shoven recommend in their book, our country is likely suffer massive and unnecessary social dislocation. This is a must-read. I bought two copies myself.

I'd suggest that before anyone concludes that this is the final word on Social Security, they ought to consider another book.. "Social Security: The Phony Crisis". Clearly the authors of "The Real Deal" don't get the math or the purpose of this vital program. This is simply another ploy by the political right to justify their long pursued goal of privatization, a raw deal for working families. They should be ashamed. I'm sure they'd sing another tune if they or someone they loved relied on Social Security for disability or retirement benefits. The real deal is the millions of near retirees who have lived paycheck to paycheck, have no employer sponsored retirement plan, or savings; and are counting on so-called "compassionate conservatives" to give a dam about them. The philosophy of the well fed right wing will leave our children to face the nightmare of raising their own families, planning for their retirement, and supporting the baby boom. This book? A total waste of money.