solvency
A call for “common sense” reforms to Social Security
Former vice president Mike Pence, a likely 2024 presidential contender, is advocating for “common sense reforms” to Social Security and Medicare. Speaking to university students, “if we act in this moment with the support of this generation, we can introduce…
Is there a reasonable solution to Social Security woes?
Social Security Trust Fund will be able to pay scheduled benefits on a timely basis until 2034, according to the latest report. At that time, the reserves will become depleted. Continuing tax income will be sufficient to pay 77 percent…
How will the banking crisis affect Social Security funding
According to the 2022 report from the Social Security trustees, the trust funds will run out of money by 2035; however, the Congressional Budget Office projects insolvency could come even sooner. A bipartisan group of U.S. senators is working on…
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…
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…
Raising the retirement age
Choosing when to start receiving your Social Security retirement benefits is an important decision that affects your monthly benefit amount for the rest of your life. For those born in 1960 or later, your full retirement age is 67 to…
The Growing Emphasis on Social Security Reform
As we’ve been reporting for the past several weeks and months, the rhetoric on Social Security reform is steadily building. In fact, this week brought a riveting debate that played out on MSNBC in prime time (see our previous posts),…