Tag: retirement replacement rates
CBO suggests that Social Security is getting more generous every day. The stage is being set for cuts in Social Security, and the Congressional Budget Office (CBO) has become a major player in this effort. The agency’s most recent report shows not only a huge increase in the 75-year deficit, but also an enormous increas…
Critics portray the system as providing generous benefits. The Wall Street Journal ran an op-ed recently by Andrew Biggs entitled “New Evidence on the Phony Retirement Crisis.” The thrust of Biggs’ argument is that the average guy gets a pretty high benefit from Social Security; couple those benefits with 401(k) saving and he w…