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Most Americans approaching retirement age are probably aware that Social Security will lose a major funding source in a decade or so. That source, the Old Age and Survivors Insurance (OASI) Trust...
Section 201 of the Social Security Act requires that the money in the trust funds be invested in interest-bearing debt securities issued and guaranteed by the federal government known as U.S ...
The Wrong Way to Fix Social Security There are those who believe that with a few "minor tweaks," the current system can be saved. (You can read my colleague Dan Caplinger's proposal for fixing ...
Proposals to address a looming Social Security budget shortfall tend to take two forms: reduce benefits to save money, or increase revenue to help fill in the funding gap. In either case, Social...
Because Social Security tax receipts and interest exceed payments, the program also reduces the size of the annual federal budget deficit commonly reported in the media. For example, CBO reported that for fiscal year 2012, the "On-budget Deficit" was $1,151.3 billion. Social Security and the Post Office are considered "Off-Budget".
One of the favorite liberal solutions to Social Security’s financial problems is to eliminate the wage cap entirely but give people who earn more than the cap no benefits above the current ...