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Here’s the U.S. Deficit’s Next Victim
The Congressional Budget Office recently produced revised projections. In short, it raised its federal deficit estimate for fiscal 2015 to $486 billion, compared to $468 billion in the previous projection. That means 2015’s deficit will now be larger than 2014’s – even…
Medicare in 2015: What You and Your Loved One Should Know
Today, millions of seniors depend on Medicare to cover a portion of their medical expenses. Because Medicare plans can change each year, it’s no surprise that beneficiaries and caregivers will see changes to Medicare in 2015. One of the best financial…
Social Security’s Disability Insurance Financing Crisis: Why Another “Quick Fix” Funds Transfer May Cost Far More Than Advertised
Social Security’s trustees have long warned Congress to address the troubled finances of the Disability Insurance (DI) program. Given the DI trust fund’s projected exhaustion date of 2016, legislation will be required during this Congress to prevent large, sudden benefit…
SSA to Scrub Pension Offset Records
SSA has said it will improve its system for keeping track of spousal beneficiaries affected by the government pension offset, following an inspector general report disclosing that the records needed to determine that offset are often incomplete or wrong…. The…
How Women Can Get Most From Social Security
Last year, women made up 57 percent of the Social Security beneficiaries older than 62 and 68 percent of beneficiaries older than 85. Why is it important to know these figures? Women are most likely to take time out of…
Why It’s Harder for Women to Save for Retirement
When Vadaire James was in her early 20s, her mom sat her down to have “the talk,” not about sex, but about saving for retirement. James says she didn’t listen to her mother’s advice. Now 40, James wishes she had. After…
Unfunded Liabilities, the Lockbox, and Other Social Security Myths
Social Security: It’s the third rail of American politics. Its trustees warn it will be insolvent by 2033. Third-party studies warn the day of reckoning could come nearly a decade earlier. Pundits warn its $70 to $120 trillion in “unfunded…
Rep. Van Hollen Makes Clear That He Backs Social Security Expansion
Rep. Chris Van Hollen (D-Md.), who has been accused by progressive groups of being in favor of cuts to Social Security, announced his backing Wednesday for a bill that would expand the program. Van Hollen, who is running to replace retiring…
Heritage: Amnestied Illegals to Get $1.3T in Social Security, Medicare
If implemented, President Barack Obama’s executive actions granting temporary amnesty and federal benefits to nearly 4 million illegal aliens in the United States will end up costing American taxpayers about $1.3 trillion in Social Security and Medicare benefits, and about…
How About a Bold Plan for Reforming Social Security’s Disability Program
The Social Security disability insurance program (SSDI) is an absolute disaster. As Politico’s David Rogers reported in December: “In the past 20 years, the number of workers getting disability payments has more than doubled to 8.95 million last month [November].…