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How the New GOP Congress Exposed the Absurdity of Our Budget Debates: Is America Headed for a Debt Crisis? Depends on How You Look At It
House Republicans raised a number of eyebrows with an under-the-radar change to Social Security and disability insurance this week. Social Security proper — also called Old-Age and Survivors Insurance (OASI) — and Disability Insurance (DI) both exist under the umbrella of the Social Security program, and both are funded by payroll taxes. Both programs also have trust funds, to cover years when the incoming cash from taxes does not equal the benefits the programs pay out. Congress has shifted resources between the two funds at least 11 times in the past. Read More…
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