The Truth about the 2009 Social Security and Medicare Trustees Report
Tuesday, May 12th, 2009Here’s the bottom line from this year’s Trustees Report: Social Security is still fully funded for 28 years No COLA increase planned for retirees Skyrocketing health costs nationwide continue to threaten Medicare Undoubtedly, these facts truths will probably be buried in coverage of this year’s Trustees report as the anti-entitlement crowd revs up its billion [...]
The Recession Won’t Bankrupt Social Security
Wednesday, April 1st, 2009Let’s start off by stating the obvious…unless you’re an economist or policy analyst, the details of Social Security’s funding mechanisms, trust fund operations (OASI & DI) and projection methodology for both, are far beyond what the average American knows (or even cares to know) about the program. Unfortunately, this is exactly why it’s so easy [...]
Rough Economy Means Even Rougher Retirement
Wednesday, October 8th, 2008There have been a large number of articles, reports, and Congressional testimony this week on the current economic crisis and its impact on seniors. Here is a quick summary of the best of the best: Americans’ retirement plans have lost as much as $2 trillion in the past 15 months – about 20 percent of [...]
Trying to Have it Both Ways on Social Security
Wednesday, September 17th, 2008Senator John McCain continues to slam Wall Street but at the same time supports sending American retirees’ Social Security to investors. Here’s one of his latest having-it-both-ways-moments on CNN: “We will come back from this crisis, but right now we are the victims of greed, excess and corruption on Wall Street” and “It’s a very tough crisis [...]