Tag: fixing Social Security
Increasing the Full Retirement Age is not a third option; it’s an across-the-board benefit cut. In this campaign season, fixing Social Security is once again emerging as a major topic. As Figure 1 shows, the cost of the program as a percentage of payrolls is higher than revenues. In the short term, the gap can…
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…
