Relevant and even prescient commentary on news, politics and the economy.

Obama caves yet again: offering Social Security cuts to appease the right…

by Linda Beale Obama caves yet again: offering Social Security cuts to appease the right… Obama’s budget isn’t even released yet and he’s already caving to the “let’s make the rich richer and forget the rest” crowd.  That crowd that claims that we need a capital gains preference so the rich can gather all that […]

Social Security payroll contribution not a problem

This item confirms that the Northwest Plan for Social Security would work rather well for Congress, Social Security, and beneficiaries. Beltway conventional wisdom thought otherwise. My own reaction was of puzzlement by the Beltway conventional wisdom. Fiscal Times reports: We’ve already seen evidence that consumers have largely shrugged off this year’s expiration of the payroll tax […]

Social Security is the healthiest component of the U.S.’s retirement saving system

Bloomberg’s Josh Barro is the lead writer for the Ticker, Bloomberg View’s blog on economics, finance and politics. Social Security is the healthiest component of the U.S.’s retirement saving system Last week I wrote that Social Security is the healthiest component of the U.S.’s retirement saving system and should therefore be expanded. This isn’t a […]

A President Who’ll Cut Social Security — And Liberals Who Love Him Too Much

Richard Eskow  points us to a trend with liberals media types and Social Security: A President Who’ll Cut Social Security — And Liberals Who Love Him Too Much The spectacle of a supposedly liberal president repeatedly and needlessly trying to cut Social Security is enough to bring a reasonable, economically literate person to the point […]

Dean Baker on Social Security and Obama

Via Truthout Dean Baker points to continuing insistent of President Obama to keep Social Security ‘on the table’. Dean Baker has a take on some numbers surrounding the politics and stories politicans offer: While most of the DC insiders probably don’t understand the chained CPI, everyone else should recognize that this technical fix amounts to […]

Rep Marsha Blackburn’s snow job. Explains how Social Security money flows

I was watching C span Washington Journal this morning.  Rep Marsha Blackburn was the guest.  I got to listen to her explanation of how the Social Security funds flow and just had to post the clip.   Copied from the transcript of the clip: THEIRS MONEY THAT GOES TO MEDICARE AND SOCIAL SECURITY AND I THINK […]

2013 Northwest Plan for a Real Social Security Fix

The Northwest Plan for a Real Social Security Fix was first introduced and revised in 2009. Obviously it was never adopted. Still the basic mechanism remains the same as does the rationale and working assumptions and in what follows I am going to assume a certain knowledge of the mechanics of Social Security finance and […]

Northwest Plan for a Real Social Security Fix: Duesenberg Draft

The Northwest Plan for a Real Social Security Fix was introduced and then revised in 2009, explaining why the post link references ‘Vers 2.0’. What makes the NW Plan ‘real’ is that it is both permanent and contingent. To explain this mild paradox lets take an analogy. Let’s say you have a 1935 Duesenberg that […]

Bruce Webb, Dale Coberly, Arne Larson and the National Academy of Social Insurance

Rdan The National Academy of Social Insurance report on options for Social Security is public and now available in pdf form. “The purpose of this report is to help analysts and policymakers consider options to bring Social Security into long-term balance in ways that also address concerns about benefit adequacy.” One cannot simply glance through […]