by Dale CoberlySocial SecurityThe Fundamental TruthIf you don’t understand this, you don’t understand Social Security. If you do understand it, all the rest is minor technical detail… or utter nonsense. Social Security is not welfare. Social Security is not an investment plan. Social Security is insurance… to avoid welfare if your investment plan doesn’t work […]
Social Security arithmetic isn’t hard. Tedious perhaps and with counter-intuitive results but once certain terminological obstacles are swept away not requiring advanced math skills. But oy that terminology! This post proposes to start demolishing those conceptual barriers. Social Security is considered ‘solvent’ when its ‘Trust Fund’ is in ‘actuarial balance’. The Social Security Trust Fund […]
Laurence Kotlikoff has a post in Bloomberg opinion section on the current status of the Social Security. This is lifted from Dale Coberly’s note back to him: Your analysis that SS is desperately broke ignores the fact that the projected shortfall can be made up by raising the payroll tax one half of one tenth […]
by Dale Coberly A kind person suggested I be ready to be crucified about calling for increasing a “regressive tax” if I call for raising the payroll tax forty cents per week. The people who say Social Security is a regressive tax are suffering from brain damage caused by parrot fever. Having been taught to […]
by Dale Coberly Fixable ErrorNew Insightand Social Security(amended version)When errors are honest, and people keep talking in good faith, they are usually fixable. One of the errors I will talk about here is mine. The new insight is entirely the result of the good faith and honesty of Eric Laursen who has written a book […]
by Dale Coberly Fixable ErrorNew Insightand Social Security (Rdan…please refer to the amended post of the same title)
Guest post by Kenneth Thomas Social Security Hurt by Republican Jobs Obstructionism The Center for Economic and Policy Research (CEPR) published its commentary on Monday’s release of the Social Security Trustees Report, which found that the Social Security trust fund would be exhausted in 2033. CEPR rightly blames the recession for the deterioration of Social […]
by Dale Coberly SAVING SOCIAL SECURITY SIMPLIFIEDThe Trustees Report came out again this week. And all the newspeople told us again that we are doomed. Doomed. “Social Security is running out of money!” Except it isn’t. And all the Professional Defenders of Social Security rushed out to tell us, “We can save Social Security: just […]
If past file conventions hold true these links should work immediately on release of the 2012 Social Security and Medicare Reports Monday morning. This link SHOULD get you to the CURRENT summary. Which means 2011 until it means 2012. When it does. Social Security and Medicare Summary Report BTW from all evidence 99% of all […]
The first link is to the 2011 Report and is meant as a teaching tool. The Table shows projected income, cost, and balance projections over what the Trustees consider the ‘short term’, which is the same ten years used by OMB and CBO in their scoring. Table IV.A3.—Operations of the Combined OASI and DI Trust […]