Social Security solvency
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? The problem is not new. The program was last reformed in 1983 and was designed to buy solvency for about 75 years. But many factors, some projected and…
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…
Both Biden & Trump Social Security “fixes” miss the mark
Sean Williams has a piece that describes the stark reality of leaving the Social Security program alone– benefit cuts in excess of 20% in a decade. Williams notes that since 1985, the annually released Social Security Board of Trustees Report…
Need to have an honest conversation about Social Security
The presidential candidates are promising to preserve Social Security, but the reality is that if Congress does not take action by 2035, seniors will see a cut to their benefits. When discussing the Social Security insolvency issue, many myths about…
Workers want lawmakers to shore up Social Security
U.S. workers want lawmakers to address Social Security’s insolvency issue. In a recent report, 58 percent of workers said they want the President and Congress to fix Social Security. However, when asked what Congress should do, the response was mixed,…
Social Security is facing a cash shortage
The Transamerica Center for Retirement Studies recently reported that 88 percent of baby boomers expect to rely on Social Security in retirement. However, Social Security will be insolvent in just 11 years, forcing benefits to be cut by nearly 17…