our second discussant will be bruce meyer. a visiting scholar here at aie. thank you both for coming today. following discussants' comments, we'll allow for brief interchange between participants and turn to your questions. at this point, i'd like to begin with our presentations. pete, we have between 20 and 25 minutes, then we'll go to josh. thank you very much. >> thank you, andrew, and thank you all for showing up today. as andrew already mentioned, this is a joint work and my co-author is actually sitting in the front row. this paper is a product of the soi joint statistical research program. our paper examines two questions. first, are workers able to maintain their standard of living after they claim social security benefits. to answer that question, we're going to look at changes in spendable income around the time they claim. secondly, where do retirees get their income from after they claim social security. and to answer that question we're going to look at the incidents and amounts of incomes they get from different sources. the reason we undertook

our second discussion today will be bruce meyer, university of chicago. >> thank you. i am very happy to be here. please refer to this handout. i was a late substitution to discuss two 85-page papers. you can think of me as the closer if you want. so these papers are wonderful. the topic is especially important given the magnitude of expenditures on social security, given that the modern government is a pension fund that also happens to have an army. i like papers also because they hit on the fact that the decline in poverty over the last 50 years has been one of the major anti-poverty achievements in the u.s., and the papers are -- the bee and mitchell paper in particular indicate that that decline in poverty has been even greater than indicated by official statistics. i also like the papers because they support much of what i have been arguing for the last 15 years, they fill in large gaps that i haven't been able to fill in. i have been trying to get the social security administration to do a version of this -- of the bee and mitchell paper for about 15 years. every

bruce bozzi, jr., billie joe armstrong once again! [ cheers and applause ] and the roots right there from philadelphia, pennsylvania. stay tuned for "late night with seth meyersicon and author grace coddington -- featuring the 8g band with fred armisen. ♪ [ cheers and applause ] ladies and gentlemen, seth meyer >> seth: good evening, i'm seth meyers, this is "late night." how is everybody doing tonight? [ cheers and applause ] fantastic to hear. in that case, let's get to the news. following president trump's recent threats to totally destroy north korea, leader kim jong-un yesterday, called trump a mentally deranged u.s. dotard. [ light laughter ]