Today, the House Ways and Means Subcommittee on Social Security held a hearing on bipartisan proposals to reform Social Security. Members of the subcommittee and the witnesses all agreed that now is the time to reform Social Security, which is currently projected to be unable to pay full benefits by 2033.
Tune in as the House Committee on Ways and Means Subcommittee on Social Security will hold a hearing on bipartisan proposals to reform Social Security benefits and their impact on beneficiaries, the budget, and the economy. CRFB's Senior Advisor and Moment of Truth Director Ed Lorenzen will testify on possible reforms to entitlement programs. CRFB board members William Hoagland and Eugene Steuerle will also be testifying tomorrow. The hearing is scheduled to begin at 9:30 am.
On the eve of the Senate Judiciary Committee marks up the Gang of Eight’s immigration bill, Stephen Goss, the Chief Actuary of the Social Security Administration, provided a preliminary breakdown of the legislation’s impact on Social Security. In his response to a request made by Senator Marco Rubio (R-FL), Goss analyzes the bill’s treatment of immigrants currently living in the U.S.
With the President proposing switching to the chained CPI to measure inflation, the attack dogs are out.
The recent NPR segment from Chana Joffe-Walt on the disability insurance program has certainly started a conversation. The Washington Post's Wonkblog in particular has been examining the story, and last week Dylan Matthews posted a story with five ways to reform the program. Matthews's list includes:
CRFB board member and former CBO and OMB director Alice Rivlin is somewhat of a legend in the budget world, with a long line of work spanning from being the first director of the Congressional Budget Office to most recently serving as a member of the Fiscal Commission and as co-chair of the Domenici-Rivlin Debt Reduction Task Force. It then comes as no surprise that the National Academy of Social Insurance (NASI) would present her with its 2013 Robert M. Ball Award for her work on social insurance.
In a recent story called “Unfit for Work: The Startling Rise of Disability in America,” Chana Joffe-Walt of NPR's Planet Money takes an in-depth look at the Social Security Disability Insurance (SSDI) program, which covers a growing number of Americans and is projected to face insolvency by 2016.
In a Wall Street Journal breakfast yesterday, Senate Majority Whip and former Fiscal Commission member Dick Durbin (D-IL) reiterated his support for entitlement reform in a comprehensive debt deal. We've said time and time again that the only way lawmakers are likely to resolve our long-term debt problem is by putting everything on the table, and we commend Durbin for his approach.
When considering raising the retirement ages for Social Security or the eligibility age for Medicare, some critics usually argue that change would disproportionately harm poorer workers, who do not live as long as wealthier workers. Michael Fletcher alludes to this in his recent article in The Washington Post about disparities in life expectancy among different socioeconomic groups.