Social Security
The most effective tactics for protecting your identity
There have been 95,901 total reports of government imposter scams alone in 2022, according to the Federal Trade Commission (FTC). The Social Security Administration is the most impersonated federal government agency resulting in $46.37 million in total losses. Kurt Knutsson…
Be sure to do this before you start Social Security benefits
Deciding when to begin your Social Security benefits should not be made in a vacuum, especially if you are married. Different claiming strategies will maximize your combined income. Christy Bieber advises if you are thinking about filing for your Social…
What you should know about the national debt
The national debt level of the United States is a measurement of how much the federal government owes its creditors—in particular – it is the sum of federal government debt held by the public and intragovernmental debt. Congress puts a…
CBO estimates a funding shortfall in 2032
The Congressional Budget Office (CBO) estimates federal spending on Social Security and Medicare will outpace the revenues and the economy overall. They quoted a variety of factors, including rising costs of medical services, large cost-of-living adjustments, and the last of…
You shouldn’t rely too heavily on Social Security
Nearly nine out of ten people age 65 and older were receiving a Social Security benefit as of December 31, 2022. Social Security is the major source of income for most of the elderly. Despite the misleading information on the…
Will the Social Security Expansion Act fix Social Security insolvency?
Senator Bernie Sanders has re-introduced the Social Security Expansion Act. The newest version of the legislation comes out amid a national debate over Social Security. Along with the bill, Senator Sanders offered a copy of the letter from the chief…
Do you have unrealistic expectations regarding Social Security?
The harsh reality about Social Security is that it will not replace all of your pre-retirement income. According to the Social Security Administration, 37 percent of men and 42 percent of women receive 50 percent or more of their income…
Start telling the truth about Social Security and Medicare.
The vulnerability of Social Security and Medicare programs is not an ideological matter but an economic reality. Both programs are funded in part by dedicated taxes paid by both the employee and employer. However, with fewer individuals in the workforce,…
Keeping the Social Security trust fund solvent will require bipartisan support
Many Americans are aware of the Social Security trust fund solvency issue; however, with the recent political tension, the uncertainty of a solution remains. A recent survey from the University of Maryland found individuals who identify as Republicans or Democrats…
No cuts to Social Security and Medicare
With all the political rhetoric in the news and social media that Republicans will cut Social Security and Medicare programs, a leading republican says, no, these programs are off the table with respect to budget cuts. James Comer, House Oversight…