solvency
Do You Have a Backup Plan?
If you watch this website with any regularity, you are aware that Social Security, which is an important source of income for so many American seniors, will be facing financial difficulties in less than a decade. We frequently post various…
Is Social Security Going Broke?
Well, no, it is not. But it is facing some serious financial issues which will come to a head in about 8 years, unless Congress acts soon to reform the program. Fact is, Social Security spends more money than it…
Straight Talk about Social Security
Persistent emails to the AMAC Foundation’s Social Security Advisory Service accuse various politicians of squandering Social Security money for other, sometimes nefarious, political projects. The AMAC Foundation has exhaustively investigated this accusation and found it to be a myth –…
Will Social Security Disappear?
Well, no – it will not. But there is the problem that Social Security’s annual cost is more than the income it receives from working Americans, and income taxes on SS benefits, and interest from reserves held in the Social…
Advisory: If you take Social Security and are delinquent on your Student Loan
Consider this a “heads up” advisory! Starting “sometime this summer” the federal government may start garnishing some Social Security payments for beneficiaries who are delinquent on their student loans. While it may seem inconsistent that someone receiving Social Security still…
Supreme Court hands White House a victory
In a majority opinion, with its liberal justices dissenting, The Supreme Court ruled that President Trump’s signature “DOGE” (Department of Government Efficiency) can have access to sensitive Social Security records. Although opponents feared that unfettered access to the records might…
White House Statement about reducing Medicaid Fraud
In an effort to clarify (in the face of relentless media reports of potential healthcare cuts to needy Americans) the White House has released a statement about finding fraud, waste and abuse in the nation’s Medicaid program (not to be…
The ongoing Saga of Social Security’s “Full Retirement Age”
Although, for many years, age 65 was considered to be the normal retirement age, for Social Security purposes that changed with legislative changes made in 1983. In that year, legislation was enacted which gradually raised the age at which full…
Is increasing Social Security’s full retirement age on the horizon?
Social Security’s full retirement age (FRA) is the point at which you get 100% of the monthly benefit you’ve earned from a lifetime of working. Right now, the FRA for anyone born in 1960 or later is age 67. And,…
Social Security Under New Leadership
Financial services executive Frank Bisignano has taken over the helm as Commissioner of the Social Security Administration, replacing Acting Commissioner Lee Dudek. This appointment comes at a challenging time for Social Security, in the midst of several recent changes aimed…