Recently I saw a clip (if I find it I will link to it) where Senate majority leader Harry Reid was asked about the solvency of Social Security. His reply was that it was sound and nothing has to be done in the near future. As Allan Sloan points out in The Washington Post, this is a [...]
More.....According to this article, Social Security will run a deficit over the next two years, as revenue from workers will fall short of the payments to retirees. The system is expected to run “surpluses” again in 2012 until 2016, at which time it will run perpetual annual deficits unless Congress fixes it. What made me comment on the article [...]
More.....Every January recipients of Social Security receive a cost-of-living-adjustment (COLA) based on the change in the Consumer Price Index (CPI) from September to September. For instance the change in CPI from September, 2008 to September, 2009 would show up in the January, 2010 checks of retirees. For the first time since automatic adjustments were implemented in [...]
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