Headlines
Can Distressed Social Security be Fixed?
At times, the rancorous debate over what to do about the looming Social Security funding gap seems like an argument among doctors about how to save a dying patient. One side insists that major surgery (cutting benefits) is the only…
Social Security Needs to Prepare for Aging Americans
Social Security is written about almost exclusively in terms of its financial health. Last week, for example, the trustees for Social Security reported that without legislative changes, the program’s financial reserves would be exhausted by 2033, and it would thereafter…
Politicians say Social Security, Medicare still in need of reform
On the face of it, an improving economy, a more stable Medicare trust fund and a generally positive outlook for Social Security over the next 10 years would be unequivocally good news in Washington. But there is growing concern from Republicans…
Mike Fitzpatrick, House GOP Member, Supports Increasing Social Security Payments
While the House GOP and conservative Democrats have been calling for Social Security spending to be reined in, a subset of Republicans has acknowledged a different reality: The old-age program does not now keep up with the costs facing seniors.…
5 of the Biggest Money Mistakes Retirees Make
When you’re young, you can afford to make some financial mistakes. The closer you get to retirement, however, the more costly those missteps can be. And whereas past generations often just waited for their pension checks to come each week,…
Gen Xers may never be able to retire
Typical Generation Xers now in their late 30s to late 40s saw their net worth drop by a larger proportion than older Americans during the financial crisis and came out of it less prepared for retirement than the post-World War…
UNDERSTANDING SOCIAL SECURITY: Does Immigration Help Or Hurt It?
Congress is currently contemplating legislation to update immigration policies and procedures. In response to an inquiry made by Sen. Marco Rubio of Florida, one of the Senate sponsors of immigration reform, the chief actuary for SSA, Stephen C. Gross, in…
Proposals Addressing Trust Fund Solvency
The last 5 Trustees Reports have indicated that Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) Trust Funds would become exhausted between 2033 and 2041 under the intermediate set of economic and demographic assumptions provided in each report. If no legislative change is enacted,…
Social Security Changes Could Hurt Blacks Most
Social Security changes proposed by Obama could hurt African Americans more than other groups. The Center for Global Policy Solutions report finds that the changes may cause particular harm to older African Americans who depend on Social Security for the…
House approves plan to pay creditors, Social Security…
The Republican-controlled House narrowly approved a plan Thursday to protect U.S. bondholders and Social Security recipients if the nation breaches the federal debt limit later this year. With every Democrat and eight Republicans voting no, the measure passed 221 to 207 and…