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

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 […]

Social Security Monthly Balances: Nov update

How is Social Security holding up given the terrible employment numbers? Well not as bad as I had feared. OAS::Opening balance//Projected year end balance-Intermediate Cost//Y-O-Y Increase//Year end balance-Low Cost//Y-O-Y increase-Low Cost$2.023 trillion // $2.216 trillion //$193 billion// $2.221 trillion// $198 billion DI::Opening balance//Projected year end balance-Intermediate Cost//Y-O-Y Increase//Year end balance-Low Cost//Y-O-Y increase-Low Cost$214.9 billion//$218.7 billion//$3.8 […]

Comments on Social Security Projections versus Reality by Bruce Webb

Following in Brad de Long’s noble tradition of hoisting from comments, what follows are Bruce Webb’s comments to a PGL post from earlier today. The Bureau of Public Dept just released Nov 30 balances in the OAS and DI Trust Funds OAS (Survivor/Old Age)$1,835,219,251,439.91up just under $9 billion for the month.DI (Disability)$204,008,148,674.27down about $200 million […]