Social Security

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Disability Fund Is Running Out of Money—Fast

Without changes, could be insolvent within 4 to 7 years

(Newser) - In more we're-out-of-money news : If no changes are made, the Social Security Disability Insurance fund will run dry in four to seven years, according to government auditors. The Wall Street Journal takes a look at some of the reasons why, focusing at length on Puerto Rico, one of the easiest...

Obama's Lying About Social Security

 Obama's Lying About 
 Social Security 
Charles Krauthammer
Mar 11, 2011 1:38 PM CST

Obama's Lying About Social Security

Charles Krauthammer thinks Obama's being dishonest about the so-called trust fund

(Newser) - Entitlement programs are choking our budget, but one of them, Social Security, ought to be “back-of-an-envelope solvable,” argues Charles Krauthammer in the Washington Post : “Raise the retirement age, tweak the indexing formula, and means-test so that Warren Buffett’s check gets redirected to a senior in need....

One-Third of US Wages? Government Handouts

Social welfare benefits make up 35% of wages and salaries

(Newser) - More than a third of the total wages and salaries in the US is made up of government payouts, CNBC reports. Social welfare benefits including Social Security, Medicare, and unemployment insurance account for 35% of wages and salaries—a record figure that is up from 21% in 2000 and 10%...

Cranky Alan Simpson Disses Snoopy Snoopy Poop Dogg

And the enema man, because kids these days...

(Newser) - Alan Simpson, known far and wide for his hysterical and/or inappropriate penchant for speaking bluntly, is still very cranky about the federal deficit, and appeared on Fox News yesterday to do what cranky old people do: Yell at the kids. And the old people, reports Politico . “This is a...

America's Young Should Be Mad, Too
 America's Young 
 Should Be Mad, Too 
Fareed Zakaria
Mar 7, 2011 1:18 PM CST

America's Young Should Be Mad, Too

Our leaders aren't focused on investing in the future

(Newser) - Fareed Zakaria sees a lesson for America in the youth-driven revolts sweeping the Middle East. No, America’s democracy is nothing like a Middle Eastern dictatorship. “But if the troubles of Arab youth make us shine a light on the state of America’s youth, the picture that emerges...

Boehner: We Will Cut Social Security, Medicare

'Most Americans don't have a clue' about the problem, says Speaker

(Newser) - John Boehner wants cuts to Social Security and Medicare in next year's fiscal budget, even if voters may not like it, he tells the Wall Street Journal in an interview. “Most Americans don't have a clue” about “how big the problem is,” and it’s time for...

Old People Rule America
 Old People Rule America 
Robert Samuelson
Feb 21, 2011 8:50 AM CST

Old People Rule America

Budget shows that AARP has all the power

(Newser) - The unspoken question looming over Washington’s budget battle isn’t how much discretionary spending tol cut; it’s “whether our elected politicians will take back government from AARP,” writes Robert Samuelson of the Washington Post . Both parties obviously quake in fear of the senior citizens’ lobby, unwilling...

Alan Simpson: Give Deficit Fairytales the 'Green Weenie'

Deficit panel chair full of colorful language in latest interview

(Newser) - Alan Simpson, the deficit commission co-chair famous for ever-so-subtly calling Social Security "a milk cow with 310 million tits," was back on the teevee today calling for serious cuts to Medicare, Medicaid, the aforementioned milk cow, and defense, reports the Huffington Post. Some highlights from his comments:
  • "
...

Social Security to Be Drained by 2037

System will be permanently in the red unless Congress acts

(Newser) - Sick and getting sicker, Social Security will run at a deficit this year and keep on running in the red until its trust funds are drained by about 2037, according to bleaker-than-previous estimates from congressional budget experts. The massive retirement program has been suffering from the effects of the struggling...

Obama Won't Back Social Security Cuts


 Obama Won't 
 Back Social 
 Security Cuts 
SOTU PREVIEW
Jan 25, 2011 7:49 AM CST

Obama Won't Back Social Security Cuts

...Or any other specific deficit-cutting measures in State of the Union address

(Newser) - President Obama will talk about the importance of cutting the deficit in his State of the Union address tonight, but he’s unlikely to endorse any specific steps for doing so, administration sources tell the Washington Post . In particular, Obama has explicitly assured Democratic lawmakers and advocates for the elderly...

Poll: Majority Want Action on Deficit Now

Public wants spending cuts ... just not to Medicare or Social Security

(Newser) - Some 56% of Americans want the massive federal budget deficit dealt with now instead of when the economy improves, according to a New York Times / CBS poll, and 62% say they would prefer the deficit be addressed through spending cuts, rather than higher taxes. That preference, however, changed when...

Michael Gerson: Social Security Reform Could Win Independents, Save Obama's Presidency
Social Security Reform Could Save Obama's Presidency
michael gerson
Dec 28, 2010 12:34 PM CST

Social Security Reform Could Save Obama's Presidency

Liberals may not like it—but key independents will

(Newser) - If President Obama wants to get things done, he’ll have to keep cooperating with Republicans—and offer a “decisive” economic message. He can accomplish both of these goals, and push himself toward reelection, with Social Security reform, writes Michael Gerson in the Washington Post . Reform would a significant...

Obama's Next 'Cave-In': Social Security
Obama's Next 'Cave-In':
Social Security
OPINION
Dec 13, 2010 6:23 PM CST

Obama's Next 'Cave-In': Social Security

Deficit commission, tax cut deal set course for disaster

(Newser) - President Obama already caved on tax cuts, and next up is Social Security, writes Robert Kuttner on the Huffington Post . The tax cut deal will increase the deficit by some $900 billion—offering more leverage to deficit hawks and “adding to the artificial hysteria that Social Security is going...

Obama, GOP Cut Deal, Extend All Tax Cuts
Obama, GOP Cut Deal,
Extend All Tax Cuts
UPDATED
Dec 6, 2010 6:18 PM CST

Obama, GOP Cut Deal, Extend All Tax Cuts

President tacks on jobless benefits, 1-year Social Security tax reduction

(Newser) - Brushing past Democratic opposition, President Obama tonight announced agreement with Republicans to extend expiring tax cuts for all Americans, renew jobless benefits, and grant a one-year reduction in Social Security taxes for millions. The agreement also includes tax breaks for businesses that the president said would contribute to the economy's...

Deficit Chiefs Unveil Plan, With New Tax Holiday

Plan would raise retirement age, cut tax exemptions

(Newser) - Alan Simpson and Erskine Bowles formally unveiled their 59-page plan to cut the deficit yesterday, and it’s much the same as the draft proposal floated a few weeks back. The pair, who co-chair President Obama’s deficit reduction commission, want to raise the Social Security retirement age, cut Medicare,...

Social Security Won't Get Boost in 2011

Lack of increase sets Dems up for more punishment at ballot box

(Newser) - It looks like there will be no increase in Social Security benefits for the second year in a row. The bureau plans to announce this week that inflation hasn't been high enough this year to merit a cost-of-living increase. America's 58 million Social Security recipients haven't had a raise since...

72K Stimulus Payments Went to Dead People

But amounts were small, and about half were returned

(Newser) - The Social Security Administration sent 72,000 stimulus payments of $250 each to dead people, and another 17,000 to prison inmates, according to a new report from the inspector general. That amounts to $22.3 million in accidental checks, of which about $12 million has been returned, the Wall ...

We Need to Listen to Alan Simpson
 We Need to Listen 
 to Alan Simpson 
Dana Milbank
Sep 4, 2010 11:02 AM CDT

We Need to Listen to Alan Simpson

He's blunt, salty and completely correct on Social Security

(Newser) - When Alan Simpson called Social Security "a milk cow with 310 million tits," outrage ensued . When he followed that up by accusing some vets of milking the system, more outrage ensued. The former senator is "painfully blunt" and a little "salty," writes Dana Milbank, but...

Alan Simpson: Social Security Is a 'Milk Cow With 310M Tits'

Critics want ex-senator off reform panel

(Newser) - Alan Simpson is in some hot water today over a unique analogy he made about Social Security: "It's like a milk cow with 310 million tits!" the former Wyoming senator and newly anointed anatomy expert wrote to a critic in what Ben Smith of Politico describes as a...

Social Security Is Just Fine

 Social Security Is Just Fine 
Paul Krugman
Aug 16, 2010 1:41 PM CDT

Social Security Is Just Fine

There's no crisis, conservatives just hate the program

(Newser) - Social Security turned 75 last week, but nobody felt much like celebrating, because the program is under an “unnecessary, unfair and—let’s not mince words—cruel attack,” writes Paul Krugman of the New York Times . Some Democrats and most Republicans claim social security is in crisis, and...

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