Tag: raising revenues
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…
The debate about Social Security has begun. That’s perfectly appropriate. The system is running a 75-year deficit, and the assets in the Trust Fund, which are temporally filling the gap between revenues and promised benefits, are projected to be depleted in 2035. After they are depleted, revenues will be sufficient to cover only about thr…
