#Social Security

Download the pdf: Social-Security-Replacement-Rates_Nudging-in-the-Wrong-Direction.pdf Introduction Social Security reform is both necessary and urgent, yet Congress remains reluctant to act.[1] This political inertia is primarily the result of two factors. First, the combined Social Security trust funds (OASDI) are projected to remain…

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 The annual Social Security and Medicare Trustees’ reports make numerous economic and demographic assumptions to project the long-term financial status of these two programs. Among these assumptions is the average number of births women will have over their…

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…

Overview: Doubling the debt Every year the Congressional Budget Office (CBO) issues a long-term budget outlook covering the next 30 years, assuming no changes in current law. This year’s report was released on September 21 and covered the years 2020…

Introduction Recent reports from the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) have reiterated long-standing warnings that the federal budget suffers from a growing structural gap between projected spending and revenues. If left unaddressed, this structural…

Several notable changes to the funding and benefit structure of Social Security will be coming next year, the Social Security Administration (SSA) announced last week. The nearly 25 percent of Americans who claim Social Security benefits will see a cost-of-living…

Economists Douglas Holtz-Eakin and Jared Bernstein said last week that the next president and Congress must address both income inequality and fiscal responsibility. They spoke at a program at the New Hampshire Institute of Politics at Saint Anselm College. The…