by Bruce Webb Barkley Rosser and I among others have long claimed that Social Security’s economic models are too pessimistic in light of performance both over the whole post-war period and particularly over the last dozen years. And the numbers looking back are pretty clear, Social Security income/cost ratios have come in better than Intermediate […]
by Bruce Webb Those who ignore history are bound to repeat it. The otherwise estimable Ezra falls into the trap.Bipartisan Policy Making Hertzberg is wrong at so many levels and so many points that you hardly know where to start. I have bolded some of the really wrong-headed claims. Rick Hertzberg notices some Republicans calling […]
by Bruce Webb In a post at his site Andrew Biggs points us to a NewMajority.com piece by him Survey: Half of workers would opt out of Social Security if they could which in turn points to a survey sponsored by Sun Life Financial Results show that almost half (48%) would prefer to stop paying […]
by Bruce Webb 1997 II.F62007 II.D7Each year the Trustees of Social Security provide a graphic representation of the results of the three alternative projections: Low Cost, Intermediate Cost, and High Cost represented by results I, II, III respectively. And the overall shape of the graph didn’t vary much from 1997 to 2007 (other selected years […]
by Bruce Webb The following three Tables are copied from the Liebman-MacGuineas-Samwick Non-Partisan Social Security Reform Plan to make a couple of points. One is that the plan authors are just not that into you, that is if you are a wage worker seeking a more comfortable retirement. They see crisis from a much different […]
by Bruce Webb Andrew Biggs references an editorial from the Charleston SC Post and Courier Advance Entitlements Reform However, President Obama’s major entitlement-reform offensive strikes on the Medicare front. He proposed, in his speech to Congress, to deliver “quality, affordable health care for every American” while also bringing runaway costs under control. That challenging goal […]
by Bruce Webb In a world where we actually had our priorities straight we wouldn’t even be talking about Social Security. The country, the world is sick with fear about our jobs, about keeping our houses, about the plunging values in our 401ks. The LAST thing we need is the Peter G. Petersons fear-mongering Social […]
by Bruce Webb The Treasury Department maintains a handy web application called Debt to the Penny. As the name suggests it will give you total Public Debt to the penny for specific dates in the past or for a range of dates. It is this total Public Debt figure that is generally cited in news […]
by Bruce Webb Not in any real world sense. And before shaking your head in sorrow at the fact that Bruce seemingly has lost it given the numbers in Table IV.B6.—Unfunded OASDI Obligations for 1935 (Program Inception)Through the Infinite Horizon which clearly show a $4.3 trillion dollar gap over the 75 year window and a […]
guest post by Coberly A few years ago the Social Security Trustees began publishing a warning that went something like this: “After the year 2040 Social Security will only be able to meet 75% of promised benefits.” You may have gotten this message in the mail, or heard it while waiting to talk to Social […]