“The 2026 COLA is likely to be 2.7%, according to a recent projection by The Senior Citizens League. That’s a notch above this year’s COLA of 2.5%, which bumped up the average monthly benefit by roughly $50 for retired workers, and applies to more than 70 million retired senior citizens and disabled workers.” But does […]
Something that few are talking about in Congress or the news, cuts to Medicare. Brendan Boyle is a House Representative (D) and the ranking member of the House Budget Committee. Boyle is saying Medicare and Medicaid are both in the mix to fund Tr__p’s BBB. Look at the date of the letter to Representative Brendan […]
Dean Baker: Don’t Buy the Scare About Social Security. “The increase in spending on Social Security from 2033 to 2034 (measured as a share of GDP) is 0.03 percentage points. That would be less than 1.0 percent of the Pentagon’s budget. This is the extent of the increased economic burden in the year the trust […]
Speaking at a Breitbart event, Treasury Secretary Scott Bessent crowed about the new “Trump Accounts” in which the the parents or employer can contribute up to $5000/year. The funds are to be structured like IRAs and must be invested in portfolios tied to U.S. stock indexes. Quoth Bessent: “In a way, it is a backdoor […]
When I started my faculty position at the age of 32, the university had a defined benefit plan. They would contribute 6% of my salary to my retirement investment, pre-tax. I could contribute up to 60% from my salary pre-tax, but to get the university contribution, I had to contribute at least 4%. Such a […]
If you have not noticed, the present administration has come all out for the upper income citizens. It was the low-and middle-income citizens which put our president in office either by voting or not voting. My point? Yes, the present administration will eventually be out of office. Then we have the House and the Senate […]
There is a constant tenor that people can do better by investing their funds elsewhere other than contributing to Social Security. In the short term that can be true as long as you have the funds to invest all the time and the economy does well. There are no guarantees in private investments and politics […]
Just so you know: Democrats, health advocates, and even some Republicans have spoken out against the Social Security bill firmly. They are calling it a Trojan horse cutting the safety net for millions of Americans while making up for tax breaks for the wealthiest. Mostly and if living in a house with a mortgage as […]
Here’s the headline in the Boston Globe: “Medicare and Social Security go-broke dates pushed up due to rising health care costs, new SSA law” Read further and you find this: “The go-broke date — or the date at which the programs will no longer have enough funds to pay full benefits — was pushed up […]
Trump thinks the DoJ is his personal law firm. And he thinks the military is his personal militia. So like all the rest of his contractors, he’s shafting them: “The 4,000 California National Guard soldiers who President Donald Trump surged into Los Angeles remain unpaid due to delays in issuing official activation orders, leaving compensation […]