Tag: 75 year shortfall
It would be good fiscal policy and, I bet, good politics. Here’s the plan. The President has linked two budget items, and that may be a good idea. He wants to extend his 2017 Tax Cuts and Jobs Act and provide some other tax breaks, and we need to fix Social Security. The link between…
We know what we are dealing with, and can take steps to address it. The key metric used to summarize Social Security’s financial status is the 75-year deficit. This number is the present discounted value of scheduled taxes (plus the existing trust fund) minus the present discounted value of scheduled benefits divided by the present…
