solvency
The Political Landmine That Social Security Regrettably Continues to be
There’s a reason almost no politician talks about reforming Social Security, even in the face of its looming insolvency. “Touch it, and you die” is the way most have described the program for decades. Sen. Ron Johnson (R-WI) is the…
Social Security’s Problems Should be Above Politics and Pandering
A plethora of proposals are consistently introduced in every Congress, generally by Democrats, promising enhanced Social Security benefits, whether as cost of living modifications, one-time payments, or permanent minimum benefit increases. The problem with nearly all, which are intentionally written…
Op-ed: Don’t Raise Retirement Age. But is that advice even possible?
That Social Security needs reform is generally not in dispute. Reasonable people on all sides usually differ over how to shore up the program, not whether it needs shoring up. But Alicia Munnell of MarketWatch curiously seems not to acknowledge…
Social Security’s Solvency Dilemma: Drawing Closer and Closer
Social Security’s Board of Trustees will soon be issuing their annual assessment of where the program stands in relation to long-term financing, and it appears likely to some forecasters that the date for exhaustion of the program’s trust fund reserves will move…
Social Security Solvency: Sounding the Alarm (Again)
Meaningful Social Security reform has not actively been undertaken since the early 1980s, and the consequences are now evident. The program is now less than 15 years away from exhaustion of its once-considerable cash reserves–in fact, some creditable studies have…
The Social Security Solvency Dilemma: One View of a “Surefire” Fix?
Social Security’s long-term financing woes are garnering increased attention again, with the economic devastation accompanying the COVID-19 pandemic providing more fuel to the fire. While the most recent report by the Social Security Board of Trustees reiterated the 2035 end-date for depletion of…
Social Security’s Mythical Demise Continues to be a Concern for Many
We’ve discussed this point several times via posts on this website, but the concern that Social Security will not be around for future retirees just keeps coming up. The latest incarnation of this long-standing concern was highlighted in a post…
The Social Security Dilemma: A Look at Political Realities
In a post on forbes.com, contributor Steve Vernon provides an assessment of some potential paths to resolving the Social Security solvency issue. Vernon, president of Rest-of-Life Communications and a research scholar for the Stanford Center on Longevity, offers analysis into the statistical…
Social Security’s Problematic Trifecta
Let’s start with an understatement: the COVID-19 pandemic is wreaking havoc on the nation’s economy. The projections dealing with unemployment, corporate earnings, small business continuity, etc. are horrendous, both short-term and long-term. We see alerts every day telling us how…
The Debate on Payroll Tax Elimination
President Trump, in a Coronavirus Task Force briefing yesterday, discussed his thoughts on cutting and/or eliminating the payroll tax withheld by employers, thereby generating immediate financial relief for workers. The 7.65% payroll tax (6.2% for Social Security and 1.45% for Medicare) represents…