Social Security solvency
Worst-Case Scenario Planning is Becoming More Prevalent
Gallup polling some months ago suggested that almost half of non-retirees have become skeptical about the existence of Social Security in their future. Despite the unrealistic belief that the program will disappear completely, many engaged in long-range financial planning have…
Thought Leaders Weigh In on Social Security Reform
The Peter G. Peterson Foundation (PGPF), a nonpartisan organization focusing on the nation’s fiscal issues, provides various forums for policy influencers to contribute to the legislative conversations shaping the future for America’s seniors. PGPF’s Solutions Initiative 2024 is one such…
On Social Security Solvency, No Surprise… Americans Want Action!
Hardly a day goes by that doesn’t present media accounts of Social Security’s long-term financial problems, most with dire projections of a substantial benefit reduction in about a decade. The hand-wringing is intense, often highlighting the terrible effects of an…
Challenging the “Tax the Rich” Pathway to Solvency
It’s a frequent refrain when addressing Social Security’s insolvency problem: “Make the rich pay their fair share.” You heard it in the State of the Union messaging earlier this year, you heard it in the recent presidential election debate, and…
Adults are worried
Americans are worried. According to the latest Gallup poll, three-quarters of adults aged 65 and younger said they are concerned about Medicare, and 80 percent said they are worried about Social Security benefits. The poll also found the respondents “make…
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Social Security was Last Overhauled in 1983
That was the last time the Social Security Trust Fund was nearly depleted. Legislative changes were made to gradually extend the Full Retirement Age, increase the payroll tax and apply additional income tax to Social Security benefits. We are in…
A Different Spin on What to do with Social Security
The attached article by Austin Smith for 247 Wall St published on July 8, 2024 gives a different perspective for a Social Security solution. Trump has hinted that he may have a totally different way to handle the insolvency issue…
Social Security’s Problems Plus a Balanced Solution
What’s all this talk about Social Security’s problems all of a sudden? Why not just leave the program alone? Is Social Security going bankrupt? So what can be done? Are there pros and cons to each? Why not just raise…
Social Security’s $4.1 Trillion Hidden Government Deficit
Romina Boccia of The Cato Institute explains the American public’s misconceptions about how our pay-as-you-go Social Security works and how and why it faces a huge financial shortfall. Boccia explains how the IOUs work, the current deficit spending the program…