Tag: Social Security
Social Security To Run Out of Money Sooner
The trust fund that sustains a large portion of the Social Security benefits American seniors rely upon will run out of money in 2033. The trust fund will be depleted a year earlier than forecast a year ago. That’s the verdict of Social Security’s trustees, who point to the “precipitous” effect of the coronavirus...
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Social Security, the Election, and Beyond
Social Security, not exactly a hot-button issue this election season, has made an eleventh-hour appearance. Some voters are charging that Sen. Joe Biden twice voted to tax Social Security. Voters might wonder if this is true, and what it means. 
Five Steps for Taming the Federal Spending Beast
The runaway federal spending that has accompanied the coronavirus pandemic will force a reckoning in the “mandatory” portion of the U.S. government’s budget after the pandemic has passed. That’s the assessment of AEI resident fellow James Capretta, who indicates that the reckoning will mean big changes for mandatory entitlement programs whose spending has been...
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Coronavirus Is Quickly Draining Social Security
The 2020 Social Security Trustees’ Report is out, and it is not good news. According to Social Security’s trustees, the Old Age and Survivors’ Insurance Trust Fund will run out of money in 14 years, meaning that beginning in 2035, all of Social Security’s beneficiaries will have their monthly income checks slashed by 21...
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COVID-19 Policy: Yet Another Intergenerational Transfer
There is still a lot we don’t know about the COVID-19 pandemic, but one thing we do know is that those most at risk of death are the elderly and people with other underlying health problems. While there is a small risk of death for people who are healthy and young, most healthy young...
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Death, Taxes, and Government Waste
“In this world nothing can be said to be certain, except death and taxes.” Perhaps, there is a third thing: government waste.
Wave of Red Ink Set to Strike Social Security
Beginning next year, the total amount of Social Security benefits paid out to beneficiaries will exceed the amount of money that working Americans pay into it.
America’s Nazi SS Korps
Dozens of ex-Nazis drawing Social Security payments to the tune of more than $1.5 million. 
Milton Friedman’s Solution for Social Security Would Work for Government Pensions, Too
Milton Friedman, the 1976 Nobel Laureate in economics, was interviewed on the television program Uncommon Knowledge in 1999, and he offered a solution to Social Security’s financial problems: shut it down. But Friedman didn’t advocate that the federal government walk away from its promises. Social Security participants are owed a stream of payments during...
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The Program No One Dares to Question: Social Security
I recently exchanged letters with Joe Davidson, columnist for the Washington Post, about the Social Security program, in which I raised a central problem with this program, a defect consistently ignored by all its supporters. (Incidentally, the $1,000 reward I promised Mr. Davidson—which he did not attempt to claim—remains open to any staff member...
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