Headlines
Report: Social Security’s Buying Power Eroding Under President Biden
Senior advocates have said for many years that Social Security COLAs simply do not keep pace with rising prices over time. Khaleda Rahman of Newsweek explains the current COLA formula and calculation plus the 3.1% COLA experts predict for 2024…
Pence: Social Security & Medicare drive “runaway government spending”
Rare is the politician who speaks the true part out loud when it comes to federal entitlements. Ken Tran of USA Today focuses in on the former Vice President increasingly invoking his three grandchildren when he describes the financial issues…
Spotlight Getting Brighter on Reforming Social Security & Medicare
If there’s one positive thing the debt ceiling crisis is doing, it’s shining the light on how two large entitlement programs need big reforms. Lorie Konish of CNBC notes that rather than waiting for a big overhaul, more incremental changes…
Op-ed: Misery All Around
Rae Hartley Beck worked for the Social Security Administration (SSA) for six years and currently writes on finance matters. Writing in Forbes here, she shares conversations with current SSA employees who believe a “big mess” will ensue if the U.S.…
Forewarned is Forearmed: Social Security advocates brace for debt default
Rob Wile of NBC News breaks down the current state of negotiations over raising the debt ceiling and what it means for those collecting Social Security benefits. While experts do not predict default, it is not out of the question.…
Social Security Disability – “A system in crisis”
The Social Security Administration offers two programs for disabled Americans – Social Security Disability Insurance (SSDI) meant for workers who have contributed to Social Security through payroll taxes, and Supplemental Security Insurance (SSI) which is a separate means-tested program for…
A Bad Plan: Refusing to Reform Social Security
As the 2024 election year approaches, politicians on both sides of the aisle are vowing to “leave Social Security alone.” Specifically, President Biden, who has announced his plan to run for reelection, has vowed (vaguely) to protect Social Security but…
Social Security and the Debt Ceiling
What we all hate most in life is uncertainty, so all the political rhetoric about the debt ceiling and apparent political shenanigans by just about every lawmaker with a microphone are, to say the least, disconcerting, especially when they suggest…
The Debt Ceiling and Social Security Benefits
Reaching the country’s debt ceiling is all over the news lately, with experts suggesting that the government might reach that spending brick wall as early as June 1st. When the debt ceiling is reached, the government can no longer borrow…
What Would Happen If Social Security Isn’t Reformed?
The short answer: when the Trust Fund reserves are depleted in about 2033, every beneficiary’s monthly payment will be cut by about 25%. That’s a pretty dire prediction, considering that the most painful financial damage would be borne by the…