Social Security

Why We Can't Wait to Act on the Debt

Last week, Paul Krugman took issue with Tom Friedman's comparison between climate change and the debt situation, but unfortunately missed the mark quite badly.

A Few Proposals For Reforming Entitlement Programs

A recent report from the Business Roundtable (BRT) outlines their proposal to reform Social Security and Medicare with the goal of maintaining an effective and efficient social safety net for future generations while addressing our long-term fiscal imbalance.

Robert Greenstein Answers Critics on Chained CPI

The chained CPI has been receiving much attention lately after being included in the latest offers from both the GOP and White House. Some critics of the policy have been voicing their concerns, and yesterday, CRFB chimed in again to clear up the misconception that moving to the chained CPI would be regressive.

The Chained CPI Explained

One option on the table that has great potential to be included in a final deal is the chained CPI. As we explain in our updated paper on the chained CPI, "Measuring Up," the current CPI overstates inflation because it doesn't account for substitution between different categories as relative prices change. Today, Marc Goldwein, CRFB's Senior Policy Director, further explained this policy in a CNN radio interview using the example of ham and turkey sandwiches. You can listen below:

Think Tanks Bring Ideas to the Table

Just as President Obama and the Republican leadership are trading offers, three think tanks--the Heritage Foundation, the Center for American Progress, and the Bipartisan Policy Center-- each offered ideas that could be used in the negotiations.

Switching to the Chained CPI Is a Good Idea

Yesterday, the AARP published a report and sent an accompanying letter to members of Congress and President Obama in opposition to switching to the chained CPI for calculating cost-of-living adjustments (COLAs) f

Comparing Medicare and Social Security Benefits and Taxes

The Urban Institute's Eugene Steuerle and Caleb Quakenbush have updated their estimates calculating lifetime Social Security and Medicare benefits and taxes. In order to compare contributions to benefits received, they assume that the contributions have a rate of return (discount rate) of inflation plus two percent.

Actually, Raising the Retirement Age Is Not Regressive

Some commentators have suggested that raising the retirement age would be regressive given that lower income recipients tend to have a lower life expectancy than middle and higher income recipients (and therefore spend fewer years collecting benefits.) But a look at the data

Social Security Adjustments Announced Today

With the release of September inflation numbers from the Bureau of Labor Statistics, the Social Security Administration also announced its cost-of-living adjustments (COLA) and change to the maximum amount of income to which the payroll tax is applied. The COLA for Social Security benefits next year will be a 1.7 percent increase, while the taxable maximum will rise from $110,100 to $113,700.

Blahous: "The End of Social Security Self-Financing"

The Mercatus Center has released a new paper by Social Security Trustee Charles Blahous entitled "The End of Social Security Self-Financing." In the paper and an accompanying article, Blahous writes of the challenges faced by Social Security in continuing to finance its benefits with revenues from the payroll tax.

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