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Longevity Literacy to improve your retirement

There are no guarantees in life, and many pre-retirees worry about what could go sideways after they retire. One of the greatest retirement fears is outliving your savings and/or investments. Surya Kolluri, head of the TIAA Institute, said, “If you…

What you should know about the national debt

The national debt level of the United States is a measurement of how much the federal government owes its creditors—in particular – it is the sum of federal government debt held by the public and intragovernmental debt. Congress puts a…

Will the Social Security Expansion Act fix Social Security insolvency?

Senator Bernie Sanders has re-introduced the Social Security Expansion Act. The newest version of the legislation comes out amid a national debate over Social Security. Along with the bill, Senator Sanders offered a copy of the letter from the chief…

Start telling the truth about Social Security and Medicare.

The vulnerability of Social Security and Medicare programs is not an ideological matter but an economic reality. Both programs are funded in part by dedicated taxes paid by both the employee and employer. However, with fewer individuals in the workforce,…

Keeping the Social Security trust fund solvent will require bipartisan support

Many Americans are aware of the Social Security trust fund solvency issue; however, with the recent political tension, the uncertainty of a solution remains. A recent survey from the University of Maryland found individuals who identify as Republicans or Democrats…

Social Security’s Solvency Problem: Have Prospects for Resolution Dimmed?

The week now drawing to a close has been volatile on many political fronts, perhaps few more explosive than that of Social Security’s impending solvency issue. Despite the display of agreement expressed during Tuesday’s State of the Union event, it’s…

Social Security’s Chief Actuary Sets the Table for Action

Stephen Goss, Social Security’s chief actuary, lays out a series of key points describing the program’s solvency issues in a post on marketwatch.com. Beginning with a clarification of the ubiquitous “going broke” myth, Goss racks up twelve fundamental topics that…

Social Security Briefly Takes Center Stage at SOTU

President Joe Biden momentarily waded into the Social Security minefield at last night’s State of the Union address with an implication that Republican leadership is advocating sunsetting of Medicare and Social Security. His remarks triggered a chorus of dissent from…

More Thoughts on the Taxable Maximum and its Role in the Solvency Problem

Through the years, the issue of raising–or eliminating–the maximum amount of earnings subject to the Social Security payroll tax, the 12.4% assessment levied on payroll income up to the limit set each year, has repeatedly surfaced as a solution to…

The Developing Rhetoric on Social Security’s Future

The airwaves are abuzz with commentary about Social Security and the recognition that we’re a mere decade away from a major financial setback for America’s seniors. Although the arrival date for full depletion of the program’s financial reserves is somewhat…

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