Introduction Since the last major Social Security reforms enacted in 1983, every annual Trustees’ report has projected benefits would exceed payroll taxes (plus income taxes on benefits) by 2021 or earlier, and the combined retirement and disability trust funds…
Introduction As the Democratic majority in Congress attempts to finalize their nearly $2 trillion social spending plan, one issue that will soon come into sharper focus is President Biden’s campaign promise not to raise taxes on anyone making…
Introduction The impact of the Social Security program on the Federal budget has been the subject of much controversy and confusion. Indeed, disagreement between the Social Security and Medicare actuaries resulted in a lengthy addition to the “Statement of…
Introduction As debate in Washington continues over how (or whether) to pay for the latest infrastructure plan, someone will inevitably claim it will pay for itself. (1) Such optimism reflects the belief that government spending creates jobs and grows…