Social Security solvency
Social Security is in big trouble. Will a commission help?
It’s hardly a new idea– set up a blue ribbon panel of experts to tell us what we already know and propose a mix of the only three possibilities to help a program in financial distress– raise taxes, cut benefits,…
Budget Committee’s Arrington on Social Security & Medicare Solvency: “Let’s Get to Work!”
Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) opened the hearing formally titled “Medicare and Social Security: Examining Solvency and Impacts to the Federal Budget” with a statement stressing that “retirement security and health care security have 60+ million people…
A Different View on the Importance of Social Security’s Solvency Issue
RealClearMarkets’ editor John Tamny, in a post on their website, offers an opinion on the urgency of Social Security’s insolvency problem that differs substantially from many seen in financial media. In his post, he observes that the absence of demonstrated…
CRR Weighs In on Social Security Solvency
A recent post on 401kspecialistmag.com by Editor-in-Chief Brian Anderson analyzes comments from Center for Retirement Research at Boston College Director Alicia H. Munnell concerning the urgent need for corrective attention to address the looming Social Security solvency problem. Referring to…
Social Security Insolvency and the Need for Public Awareness
Social Security’s revenue from payroll taxes (i.e., FICA tax) has not been able to completely cover benefits paid since 2010 and, since 2021, all sources of revenue coming into the program have been insufficient to make scheduled benefit payments. Consequently,…
Achieving Social Security Solvency…A Political Analysis
Labeling the Biden and Trump positions of Social Security’s problems a “silent admission” they’d let benefits be cut dramatically, Mercatus Center at George Mason University’s Veronique de Rugy examines the options open to the Republican party to advocate meaningful reform.…
One View of the Solvency Issue and a Potential Solution
Social Security’s looming insolvency is beginning to get attention, finally. After all, the program’s Trustees have been sounding the alarm for about three decades, so even though its late in the 118th Congress, it’s great to see the debate shaping…
Will Medicare and Social Security be Available to the Next Generation?
Surveys show many Americans are concerned that Medicare and Social Security will not be there for them. This anxiety is fueled by the inaction of Congress to resolve the solvency issue. Read this article by Austin Denean for The National…
The Party who modifies Social Security will Reap Political Rewards
Eventually either benefits will be cut about 20% across the board or changes will be made. There are many different scenarios, some of which will push the burden (especially in the form of taxes) onto future generations. Read Veronique De…
Regarding Portions of the 6/6/2024 Social Security Subcommittee Hearing on Trust Funds
We all know that Social Security is on a path to trust fund insolvency by 2035. The hearing points out that the Biden Administration’s new budget will make things worse. Nothing is being done right now to correct the situation.…