Tag: Table V.C7
So as to not lose my few remaining readers, I would like to wind up the discussion of Social Security replacement rates. And I think that I can do that on a positive note. The Congressional Budget Office (CBO) “flap,” where the agency admitted that it had miscalculated replacement rates, suggests two pieces of good…
The Congressional Budget Office (CBO) has become a major player in the effort to show that Social Security is very expensive – huge 75-year deficit – and very generous – extraordinarily high benefits relative to pre-retirement earnings (replacement rates). These two developments together set the stage for cutting back on Social Security – something this…