Social Security solvency
Today is Social Security’s 91st Birthday!
Although this article is titled somewhat pessimistically (will this be one of Social Security’s “last birthdays”), it includes an analysis by the Committee for a Responsible Federal Budget (CRFB) which is actually a very comprehensive evaluation of the financial issues…
About Claiming Social Security Early due to Fear
By now, most seniors have heard that Social Security will be facing financial issues soon. According to the Trustees of the program, Social Security’s financial reserves will be fully depleted in late 2032 unless Congress enacts program reform soon. If…
Bipartisanship for Social Security Reform? Exactly what is needed!
In my lifetime, I don’t recall ever seeing a Congress more divided on some of the most fundamental American principles. These days it appears that whenever any idea is floated on one side of the Congressional aisle, the reaction from…
The Clock is Ticking for Social Security and time is running out!
“ It has finally become clear that Congress has run out of easy options—and it never had many to begin with.” These are words from this excellent Epoch Times article by Jay Rogers, explaining that simply increasing taxes alone (as…
“Cautious Optimism” about Social Security’s Future?
If you read these pages regularly, you know that Social Security will soon have financial difficulties which, if left unresolved by Congress, will result in a cut to everyone’s monthly Social Security payment starting in about the fall of 2032.…
Clarifying Social Security Terminology
There is little doubt that Social Security uses many different terms and jargon describing who is eligible for benefits, and when they might claim those benefits earned from a lifetime of working. If you need an example of the myriad…
Is there a need for another Social Security commission?
In response to the latest Social Security Trust Fund report, members of Congress have put forward at least two bills to create a commission to come up with a proposal to “save” Social Security. This is not the first time…
Is the Flat-Rate COLA a solution to the insolvency issue?
One of the proposed parts of the solutions to the impending Social Security Trust Fund insolvency issue concerns how the annual cost-of-living adjustment is calculated and applied. Two terms that have been used are COLA cap and Flat-Rate COLA. A…
Will Congress Finally Get Serious about Reforming Social Securty?
We’ve covered Social Security’s forecasted financial issue in these web pages regularly, but the question still looms heavily in our collective minds - will Congress finally act in time to restore Social Security to financial solvency? After all, program insolvency…
An Onerous Task for Congress: Social Security Reform
Social Security’s Trust Fund reserves are forecast to be fully depleted by the end of the year 2032. If that happens, everyone then receiving monthly Social Security payments will have those payments cut by an estimated 22%. What would that…