Well one answer it line I in the above figure from the 2015 Social Security Report. Figure II.D7.—Long-Range OASI and DI Combined Trust Fund Ratios Under Alternative Scenarios [Asset reserves as a percentage of annual cost] Under the definitions used by the Social Security Actuary and Trustees the program is ‘Solvent’ over the short term […]
At 1:30 EDT the Trustees of Social Security will hold a media availability at which they will release the 2015 Social Security and Medicare Reports. If past practice holds the Reports will be released on line at or before that time in both a web (HTML) format and in PDF. Assuming past file name conventions […]
A year ago I noticed my property owners insurance has been rather high. I say property because some is home, some is business. So, being that have been using accounting software since 1991, I went back a few years to see how much. In 2003 the house was $454/year. This year it will be $1543. […]
Very interesting paper that I missed in real time. Social Security: What Would Happen If the Trust Funds Ran Out? Almost everyone who addresses this question assumes that the answer is pretty simple: if either of the Social Security Trust Funds goes to zero than benefits will automatically drop from ‘Scheduled’ to ‘Payable’ which translates […]
Obama Picks Michigan Professor for Fed Board WASHINGTON — President Obama said on Monday that he would nominate Kathryn M. Dominguez, a professor of economics at the University of Michigan, to a seat on the Federal Reserve’s Board of Governors. Well I got nothing. Except to note that Ann Arbor is not on ANY large […]
Pulled back from comments. (bolding mine) Marko July 20, 2015 7:01 am These days , more people may own stocks , but the vast majority own trivial amounts. Look up Edward Wolffs stuff on wealth distribution and try to estimate how much stocks would have to go up to tease out any meaningful consumption out […]
With the Koch Brothers donating to Center for American Progress and funding studies on Incarceration, one might wonder what changes might occur at CAP due to the financial support of studies by the Koch Brothers. CAP is not the only one to begin to solicit or accept funding from major corporations or interests. Brookings has […]
Here is an interesting (as always) cyber discussion between Brad DeLong and Dean Baker. DeLong asserted (as he often does) that the great recession was so severe because of finance and “clogged credit channels” Baker argued (as he often does) that the decline in house prices alone was sufficient to explain the downturn. In particular […]
It is just not ok to attack a Republican’s Military Service This Sunday, Jack Tapper on CNN “called Republicans who were outraged over attacks on Sen. John McCain’s war record to the table to explain themselves on past attacks on Democrats. Jack reminded the Republicans of their Swift Boat smear of then 2004 Democratic presidential […]