Tag: cutting benefits
Social Security is once again in play, no matter how much people deny it. In part, that’s a good thing, because Social Security benefits cost more than the income rolling in (see Figure 1). So far this mismatch between the cost of benefits and revenues hasn’t had any impact on beneficiaries, because the shortfalls hav…
Who knows what’s happening in Washington in the battle over raising the debt limit. One day they’re searching for $4 trillion in savings; the next day it’s $2 trillion. Sometimes Social Security is on the table; sometimes it’s not. Fixing Social Security could modestly help reduce the long-run deficit, but it is too important for…
