by Bruce Webb In 2003 CBO published an Issue Brief illustrating the relative contribution of Aging and Real Benefit Growth to future Social Security spending called The Future Growth of Social Security: It’s Not Just Society’s Aging with results graphed above:. Discussion under the fold. Approximately 55 percent of the higher spending is due to […]
and nobody notices, did it really disappear? by Bruce Webb I started reading the Annual Report of the Trustees of Social Security in 1997 and awaited its typical March 31st release date each year since with eager anticipation. To the point that last year I put up a post that morning called Bestest Day of […]
by Bruce Webb In response to my Pelosi Rule post of yesterday commenter Darms plays Devil’s Advocate in asking the following shrewd question. Bruce, Since the commision may be looking for a mechanism to delay redemption of those SS trust fund bonds and I’ve read that some of these bonds are routinely redeemed & renewed […]
by Bruce Webb There is a huge disturbance in the Force, at least as sensed by the Jedi of FireDogLake, Democratic Underground, AMERICAblog, and OpenLeft, which is to say among the Obama-skeptics of the Left. The substance is this, in a last minute move prior to adjournment Nancy Pelosi pushed through the rule for handling […]
by Bruce WebbFollowing up on the publication of CBO’s Long Term Budget Outlook (see previous two of my posts) CBO yesterday published Social Security Policy Options (Summary for Web) and Social Security Policy Options (Full 51 pg PDF) scoring various revenue and spending cut measures that have been proposed for Social Security. The included Table […]
by Bruce Webb High on the list of tasks mandated of the Obama Deficit Commission is to get the deficit down to 3% of GDP by 2015. Unfortunately for them they have set up a situation where they can’t move that number via cuts to Social Security, if anything such cuts more one of their […]
by Bruce Webb Eric Laursen in his post Cato Premieres its Latest Horror Show points us to a new book forthcoming called ‘Social Security; A Fresh Look at Policy Alternatives’ by senior Cato fellow Jagadeesh Gokhale. Gokhale along with his oft-time collaborator Kent Smetters seems to be the father of ‘intergenerational equity’ and lead advocate […]
by Bruce Webb I have had occasion before to mention the “Leninist Strategy” for Social Security put forth in 1983 and followed by Social Security ‘reformers’ ever since. The strategy has three main pillars: One: reassure current retirees that their benefits won’t be cutTwo: convince younger workers that left unreformed Social Security just won’t be […]
by Bruce Webb This may be too wonkish for the Virtual Summit, so let me try it out here. A lot of crosstalk on Social Security ‘crisis’ is a result of three different definitions of ‘crisis’ which I would sum up as follows: Crisis one: Social Security promised benefits which may not be payable.Crisis two: […]
by Bruce Webb I mention from time to time that I talk with a number of D.C. policy types about Social Security, but mostly don’t use names because the conversations are officially off the record. Well a group of them, spearheaded by Roger Hickey’s folks at Campaign for America’s Future, have gone on the record […]