Social security is the nation's largest domestic program. It provides income support to 49 million beneficiaries, including retired workers, disabled workers, and their dependents and survivors. This book looks at long-term projections for social security, which differ slightly from the earlier results because of newly available data, updated assumptions and improved modeling. The magnitude of the financial challenge facing Social Security is also discussed and why acting sooner and spreading the burden of reform across more generations is fairer to future generations. Additionally, the possible role that progressive reductions in scheduled benefits would play in Social Security reform is explored. While there is considerable disagreement about the precise nature and timing of the reforms that will ultimately make Social Security solvent, there is broad agreement that progressive benefit adjustments will be a key component of those reforms.