A new article from Jeffrey Brown of Forbes succinctly captures much of the debate around the findings of the Social Security Trustees report. In many ways, the debate surrounding Social Security boils down to whether you view it as a stand-alone program or one that is part of the overall federal budget.
The Social Security and Medicare Trustees have signed off on their respective reports on the financial projections for the two programs, though we continue to wait for the Social Security report to be posted reports online.
Over the past couple of years, we've been arguing that raising the Social Security and Medicare ages could be an important part of a fiscal reform agenda.
In an op-ed for The Atlantic, CRFB Senior Policy Director Marc Goldwein made the case for offsetting the costs of the payroll tax cut, AMT patch, and unemployment benefit extension with the chained CPI. He argued that using the chained CPI, which is widely considered to be the most accurate measure of inflation available, makes both technical and budgetary sense.
Later this week, Senate majority leader Harry Reid is expected to hold a vote on the two largest components of President Obama’s jobs bill, totaling $250 billion of the $450 billion proposal.
It's amazing how sequences in Washington can repeat themselves.