Update 277 – Whither Social Security, on the Vine? Or Really Just in Need of a Fix in Time?
This week’s Social Security Trustee Report — little noticed only in part because it was not alarming — was another reminder that the nation is in arrears in maintaining its social infrastructure. This we have long known.
Less appreciated is how many modest policy fixes, phased in over time, can not only bind and secure the social contract but can also help address a growing inequity that makes Social Security more important than ever if the millions of Baby Boomers retiring every year are to avoid poverty.
Something to look forward to. Good weekends all .
Best,
Dana
———-
Trustees’ Toplines
This Tuesday, the Social Security Board of Trustees released its annual report detailing the state of the Old Age Survivors Insurance (OASI) and Disability Insurance (DI) programs. The report highlighted the continued fiscal challenges that face the Social Security program (SSA), which on current trends, without supplements, would not be able to pay 100 percent of benefits in 16 years.
Topline figures from the Social Security Trustees Report:
- Disability Insurance (SSDI): income sufficient to pay full benefits on program though 2032
- Old Age and Survivors Insurance (OASI): income sufficient to fund program through 2034
- In 2011, the Board projected that Social Security would be unable to provide full benefits in 2036, they have now adjusted that projection to 2034.
- Social Security is now paying out more in benefits than it receives in total revenue, years earlier than was previously projected.
The Report describes the above dates as the years when these programs will be “depleted.” However, the debate around the status of the OASI and DI programs has centered around the program’s looming “insolvency.”
This faulty analogy belies the fact that Social Security does not go insolvent. The term is at best wrong and at worst misleading. Similarly, suggesting Social Security is or may become insolvent or bankrupt raises cackles needlessly even as it belights idealogues.
While looming benefit cuts are a serious concern that can and should be avoided, the SSA is not a business, it is a facet of the American government that has an obligation to guarantee retirement funds to the American worker.
Source: Peter G. Peterson Foundation
Looming Shortfall; Several Simple Solutions
Experts warn that the longer Congress waits to solve Social Security’s pending shortfall, the more expensive to it will be to fix. In 2011, the Social Security Board of Trustees estimated it would take $6.5 trillion to avoid benefit cuts over the next 75 years. This year, they calculate that it would take $13.2 trillion.
Fixing the program that economists call the most “valuable component of our retirement system,” will be relatively straightforward. House Republicans propose cutting benefits and raising the retirement age to buoy the SSA. Thankfully, this solution appears dead on arrival, given the public’s overwhelming support for maintaining or increasing current levels of Social Security benefits.
A particularly promising proposal in the House Ways and Means Committee is H.R. 1902, the Social Security 2100 Act. The bill currently has 172 Democratic cosponsors and would strengthen Social Security benefits by:
- increasing monthly benefits by two percent
- indexing cost of living adjustments to Consumer Price Index- Elderly (CPI-E)
- creating a new special minimum benefit equal to 125% of the poverty line
The bill would keep the Social Security Trust Fund “solvent,” ie paying out full benefits, for the next 75 years according to the SSA Board of Trustees. It would accomplish this by applying the payroll tax to income over $400,000 and gradually increasing the payroll tax rate on both employees and employers, among other measures.
Congress could also consider applying unearned income such as capital gains to Social Security tax. If we were to FICA a tiny portion (1-3 percent) of capital gains, we would solve the Social Security problem easily — in fact, it would present a significant opportunity to increase benefit levels substantially, possibly by two times.
Midterm Opportunity
With such straightforward solutions available, Congress has no excuse not to address Social Security’s long-term shortfalls. Exacerbated by a brand new $1.5 trillion hole in the budget, this is a year when people will hear threats to Social Security, they will infer it from what Republicans are saying, and they may believe it themselves. Democrats, as they have in the past, will provide reassurance. This cycle especially, it is likely to provide a large benefit for them in the midterms.
Wow, that’s what I was exploring for, what a data!
present here at this blog, thanks admin of this web page.
0mniartist asmr
Do you mind if I quote a couple of your articles as long as I provide
credit and sources back to your weblog? My blog is in the exact same niche as yours
and my visitors would definitely benefit from a lot of the information you provide
here. Please let me know if this okay with you.
Regards! asmr 0mniartist
Thanks for finally talking about > Whither Social Security,
on the Vine? (June 8) < Loved it! 0mniartist asmr
We are a group of volunteers and opening a new scheme in our community.
Your website provided us with valuable information to work on. You’ve done an impressive job and our
whole community will be thankful to you. asmr 0mniartist
What a information of un-ambiguity and preserveness of valuable familiarity regarding unexpected emotions.
asmr 0mniartist
free adult dating
single free dating sites without registering
Hey There. I found your blog the use of msn. This is a really neatly written article.
I will make sure to bookmark it and return to read more
of your useful information. Thank you for the post.
I will certainly comeback.
An outstanding share! I have just forwarded this onto
a co-worker who has been doing a little research on this.
And he in fact ordered me dinner because I found it for him…
lol. So allow me to reword this…. Thank YOU for the meal!!
But yeah, thanks for spending time to discuss this matter here on your
web site.
It is the best time to make a few plans for the future and it’s time to be
happy. I have learn this submit and if I could I
desire to counsel you some attention-grabbing issues or
advice. Perhaps you could write next articles referring to this
article. I wish to read even more issues approximately it!
Unquestionably believe that which you stated. Your favorite
reason seemed to be on the web the easiest thing to be aware of.
I say to you, I certainly get annoyed while people think about worries that they just do not know about.
You managed to hit the nail upon the top as well as defined out the whole thing without having side
effect , people could take a signal. Will likely be back to get
more. Thanks
Howdy! I know this is kind of off topic but I
was wondering if you knew where I could locate a captcha plugin for my
comment form? I’m using the same blog platform as yours and
I’m having difficulty finding one? Thanks a lot!
Howdy just wanted to give you a quick heads up and let
you know a few of the images aren’t loading properly.
I’m not sure why but I think its a linking issue.
I’ve tried it in two different internet browsers and both show the same outcome.
It’s appropriate time to make some plans for the future and it
is time to be happy. I’ve read this post and if I could I want to suggest you some interesting things or tips.
Perhaps you could write next articles referring to this
article. I want to read more things about it!
You actually make it appear really easy along with your
presentation however I to find this matter to
be actually something that I feel I might never understand.
It seems too complex and very extensive for
me. I’m looking ahead in your subsequent submit, I will try to get the hold of it!
Appreciating the time and energy you put into your blog and in depth information you provide.
It’s nice to come across a blog every once in a while that isn’t the same
outdated rehashed material. Fantastic read! I’ve saved your site and I’m adding your RSS
feeds to my Google account.
scoliosis
fantastic submit, very informative. I’m wondering why
the other specialists of this sector do not realize this. You should continue your writing.
I am sure, you’ve a huge readers’ base already!
scoliosis
scoliosis
I simply could not leave your site before suggesting
that I extremely loved the usual info a person supply on your guests?
Is gonna be back continuously in order to check out new posts scoliosis
scoliosis
I think that everything said made a lot of sense.
However, think on this, suppose you added a little content?
I ain’t saying your content isn’t solid., however what
if you added a title that makes people desire more?
I mean Whither Social Security, on the Vine? (June 8) is kinda plain. You might peek
at Yahoo’s front page and note how they create news headlines to grab people to open the
links. You might try adding a video or a pic or two to grab readers excited about everything’ve got to say.
Just my opinion, it might make your posts a little livelier.
scoliosis
dating sites
Hello there I am so thrilled I found your weblog, I really found you by accident, while
I was searching on Askjeeve for something else, Nonetheless I am here now and would just like to say thanks a lot for a fantastic post and
a all round entertaining blog (I also love the theme/design), I don’t have time to go through it all at the minute but
I have book-marked it and also added in your RSS feeds, so when I have time
I will be back to read a lot more, Please do keep up the fantastic work.
https://785days.tumblr.com/ free dating sites
free dating sites
I believe everything posted made a ton of
sense. However, think on this, suppose you were to write a awesome title?
I am not saying your information isn’t good, however suppose you added a headline
that makes people want more? I mean Whither Social Security, on the Vine?
(June 8) is a little plain. You might glance at Yahoo’s front page and note how they create news headlines to grab people interested.
You might try adding a video or a related pic or two to grab people interested about what you’ve written. In my opinion, it could make your posts a little bit more interesting.
free dating sites
Excellent web site you have here.. It’s difficult
to find quality writing like yours nowadays. I really appreciate people like you!
Take care!!
I all the time emailed this weblog post page to all my contacts, as if like to read it then my
friends will too.
Thank you for the auspicious writeup. It in fact was
a amusement account it. Look advanced to more added agreeable from
you! By the way, how can we communicate?
I know this website gives quality dependent content and other information, is there any other
site which presents these kinds of data in quality?
Can you tell us more about this? I’d want to find out some additional information.
A person necessarily assist to make significantly articles I would state.
That is the first time I frequented your website page and to this point?
I amazed with the research you made to create this particular publish
amazing. Excellent task!
I have read so many posts about the blogger lovers
however this paragraph is genuinely a pleasant paragraph, keep it up.
If you desire to get a good deal from this paragraph then you have to
apply such techniques to your won web site.
Admiring the persistence you put into your blog and in depth information you provide.
It’s nice to come across a blog every once in a
while that isn’t the same unwanted rehashed information.
Great read! I’ve bookmarked your site and I’m including your RSS feeds to my Google account.
Can I simply say what a relief to find somebody that truly understands what they’re discussing on the net.
You actually know how to bring an issue to light and make it
important. More people really need to read this and understand this side of the story.
I was surprised that you’re not more popular because
you certainly have the gift.
Siz de hemen takipçi satın al sayfamıza uğrayın ve takipçi satın al sayfamızdaki en kaliteli takipçi paketlerine göz atın.
Tiktok jeton hilesi arıyorsanız hemen tıklayın ve tiktok jeton hilesine ulaşın.
SGK diş yaptırma ücreti merak edenler için sgk diş yaptırma ücreti hakkında bilgiler. Hemen tıklayın ve öğrenin.
TakipciAldim.com ile takipçi satın al. Tıkla ve hemen takipçi satın almaya başla: https://takipcialdim.com
Sen de bu paketlere göz atmak için tıkla ve göz at: takipçi satın al
Harika paketler listesi. Satın almak isteyenlerin durağı: takipçi satın al
Harika paketler listesi. Satın almak isteyenlerin durağı: instagram beğeni satın al
UC satın al sayfasına tıklayın, UC Satın al işlemini gerçekleştirin. Hızlıca UC satın al işlemini gerçekleştirmek için hemen UC satın al sayfasına tıkla UC satın al!
Betboo arayanlar için betboo adresi. Hemen tıklayarak güncel betboo adresine erişim sağlayabilirsiniz.
Beğeni mi satın almak istiyorsunuz? Hemen tıklayın ve beğeni satın alın: instagram beğeni satın al
Hızlı gönderim ile sosyal medya takipçi paketleri. Çözüm için tıklayın: instagram takipçi satın al
Tiktok takipçi arayanlar için tiktok takipçi adresi. Tıklayın ve tiktok takipçi farkını yaşayın: tiktok takipçi satın al
Kayseri escort sitesine tıkla birbirinden kaliteli Kayseri Escort partnerler ile görüşme şansı yakala! Kayseri escort sitesi Kayseri escort ilanları sunar.
Kayseri Escort için Kayseri escort sitesine giriş yap Kayseri escort ilanlarını görüntüle, Kayseri escort ile görüşme sağla!
Güncel marsbahis adresi arıyorsanız güncel marsbahis adresi için tıklayın: marsbahis
En hızlı ve otomatik gönderim yöntemleriyle takipçi satın almak için tıkla: https://fatihmedya.com
Süper hızda instagram takipçi satın al ve keyfini sür: https://takipcialdim.com
Yüksek hızda takipçi satın alma işlemi için tıkla: https://smmpaketleri.com/
Kayseri escort için Kayseri escort linkine tıkla elit Kayseri escort ilanlarına göz at!
Kayseri escort sitesine tıkla birbirinden kaliteli Kayseri Escort partnerler ile görüşme şansı yakala! Kayseri escort sitesi Kayseri escort ilanları sunar.
Kayseri escort sitesine tıkla birbirinden kaliteli Kayseri Escort partnerler ile görüşme şansı yakala! Kayseri escort sitesi Kayseri escort ilanları sunar.
escort bayan bulmak için muğla escort sitesine giriş yap escort bayan ile görüş.
http://ordugozlukculeri.com
Escorts Mate sosyal medya hesaplarını takip et, yeniliklerden ve bilgilendirici paylaşımlardan haberdar ol!
click this web site to escorts mate!
click this web site project to redirect escorts mate platform.
escort bayan arkadaşlar ile görüşmek için tıklayın…
buy viagra on oine where to buy viagra in philippines drug store – buy generic viagra 50mg
then by all means, respectfully contribute your thoughts. While writing “Great Site!” in the comments is nice and respectful,
it doesn’t really help contribute to the conversation or help the author understand where you’re coming from. If you think the post is amazing, make sure you explain why you think so.
카지노사이트
Hello there, I discovered your blog via Google whilst searching for a similar subject,
your website got here up, it appears good. I have bookmarked it in my google bookmarks.
Hi there, just become alert to your blog thru Google, and found that it’s truly informative.
I am going to watch out for brussels. I’ll appreciate if you happen to continue this in future.
Lots of people will be benefited out of your writing.
Cheers!
naturally like your web site but you have to take a look at the spelling on quite a few
of your posts. Several of them are rife with spelling issues and I find it very troublesome to inform the truth on the other hand I will definitely come again again.