Headlines
The Social Security Financing Problem
The Social Security Insolvency issue will not go away by itself. Congress needs to reform it to avoid a fiscal crisis. From increasing life expectancies to a decline in the number of workers paying into the program, Social Security is…
Pushback to DOGE Review of Social Security Spending
There is a lot of controversy surrounding DOGE (Department of Government Efficiency) these days. The newest area of spending analysis is the Social Security Administration. Although this probe is meant to eliminate wasteful spending and strengthen the agency, democrats are…
Social Security’s Wasteful Spending To Be Evaluated
DOGE may be looking into Social Security next. It is not with intent to cut benefits, but for the purpose of discovering and correcting wasteful spending. This action will help the agency to function more efficiently. Andrews Mark Miller for…
Income Tax on Social Security Benefits Getting New Attention in Congress
It’s still early in the 119th Congress, but there’s a flurry of new attention being placed on the nagging issue of taxing Social Security benefits. Yesterday, Representative Thomas Massie (R-KY) reintroduced Senior Citizens Tax Elimination Act (see washingtontimes.com post here) intended…
A National Retirement Savings Program–A Way to Ensure Retirement Security?
The news these days is awash with projections of Social Security’s impending demise. Given the constant doom and gloom, it’s understandable that many recent retirees and, more importantly, those looking ahead to retirement develop a sense of despair. After all,…
Sen. Cassidy on Sovereign Wealth Fund: “Let’s use it to save Social Security!”
Reacting to President Trump’s executive order creating a sovereign wealth fund within the next year, U.S. Senator Bill Cassidy, M.D. (R-LA) yesterday suggested tying the concept to Social Security reform. Cassidy’s interest in the sovereign wealth fund approach dates back…
Thinking Outside the Box: Can Opting Out of Social Security be a Long-Term Solution?
As we’ve pointed out repeatedly on this site, the clock is ticking louder and louder as it counts down toward complete depletion of Social Security’s reserves–the reserves that, since 2021, have allowed the program to pay full promised benefits. With…
Trump Social Security Proposals: Will they be in the reconciliation bill?
White House press secretary Karoline Leavitt yesterday reported that President Trump’s proposals for elimination of tax on tips, overtime, and Social Security benefits may be included in the reconciliation bill now being crafted. A post on msn.com by Steven Nelson…
Does paying off a mortgage ASAP make sense for retirees?
The Joint Center for Housing Studies of Harvard University recently released a report showing that the number of homeowners aged 65 to 79 with a mortgage on their primary home has increased to 41 percent. Also, homeowners aged 80 and…
How Americans would prefer to solve the Social Security insolvency
The Social Security Trustees estimate that if lawmakers take no further action, Social Security’s combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust fund reserves will be depleted in 2035. After 2035, Social Security could still pay roughly…