What does ACSS stand for?

In addition to his work in the area of housing, Gramlich was also an expert on Social Security and served as chairman from 1994 to 1996 of the Quadrennial Advisory Council on Social Security.

He also chaired the 1994-96 Quadrennial Advisory Council on Social Security and was staff director for the 1992 Economic Study Committee on Major League Baseball.

Although policy analysts linked to the libertarian Cato Institute have been making proposals along these lines since the 1980s (Ferrara, 1985), partial privatization proposals have been receiving increased attention by mainstream policy analysts due to proposals by the Advisory Council on Social Security (1997) and President Bush's commission on Social Security (President's Commission to Strengthen Social Security, 2001).

The Report of the 1994-1996 Advisory Council on Social Security included three different recommendations on how Social Security payroll taxes should be invested, all of which suggested supplementing benefits by investing in the stock market.

Enter the report of the Advisory Council on Social Security.

Late last year, bickering members of a special advisory council on Social Security reported that after two years of study they still could not agree on a plan to shore up the program.

Deborah also served as chairman of the Quadrennial Advisory Council on Social Security and Medicare as a presidential appointee by then-President George Bush.

I speak for myself, as past chair of the 1994-1996 Quadrennial Advisory Council on Social Security, and not in my current status as a member of the Federal Reserve Board.