Social Security solvency
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.…
Ways to alleviate Social Security’s Insolvency
Both Social Security and Medicare are popular with Americans on both sides of the aisle, but their is a deep divide on how to fix the situation. Some possibilities include, raising the tax limit, raising taxes, and raising the Full…
According to a Survey a majority of American adults under 65 are concerned about Social Security and Medicare being available to them
Rising health care costs are behind a rising fear that Americans under 65 will not have adequate social support as they age. They are concerned about B the future of Medicare as well as Social Security. Some experts predict that,…
How could Social Security Insolvency affect your Retirement?
This report by David Fei published on June 3, 2024 for FedSmith.com contains information on this very topic. Perhaps it’s a good strategy to take the potential reductions to consider in your retirement planning. Social Security will always pay benefits.…
The So-called Social Security “Apocalypse”
“Apocalypse” and “Doomsday” are words which have been used to describe Social Security’s looming financial issue, but both words are not an accurate way to described the problem. According to this FOX29 article by Heather Miller, it would be more…