social security

Bye Bye Chained CPI and Other Budget Surprises

The Obama administration is finally abandoning their endorsement of chained CPI for next years budget.  The reason is probably not good economics, but political.  Election season is near and this is just one of many policies the Obama administration endorsed which raised the ire of the retired.  A refresher, chained CPI is another method to adjust for cost of living increases at a reduced rate than what is currently used, CPI-W.

Fifty Years Later the War on Poverty Is Lost

Fifty years ago Lyndon B. Johnson declared War on Poverty.  Great strides were made.  Between 1964 and 1965 Medicaid and Medicare were enacted, food stamps made permanent, a flurry of work and volunteer grants were passed, and educational opportunities were made more egalitarian.  Unfortunately later administrations have been tearing apart Johnson's weapons against poverty one by one.

The Last Word on Social Security Disability

Lies, damn lies, and statistics --- the mainstream media and most bloggers refuse to (or are unable to) to get the numbers correct on Social Security disability. It's no wonder they are all saying different things, and why many of us (including myself) were so confused about the accuracy of SSDI statistics. There also appears to be a lot of ideological spin in everyone's reporting --- so I'd like to help clarify a few things.

Report: Disability Claims and Awards Declined

From FY2011 to FY2012 (in the aftermath of the Great Recession) it was reported that there were actually less Social Security disability claims, less awards and more SSDI terminations. By the end of 2012, total disabled workers receiving SSDI benefits numbered 8.8 million --- not 14 million that the NPR consistently reports.

Friday Movie Night - Retirement Impending Disaster

Retirement is something most of us don't like to think about.  It is not due to aging and fear of death.  Instead, most of us are just scraping by, if that, and our retirement funds do not exist.  Out of sight, out of mind is a way to deal with the deathly fear of having absolutely no money to take care of ourselves with in old age.

So Much for the Impending Economic Armageddon Federal Budget Deficit

Surprise, when tax revenues increase the deficit goes down.  Such was the news of a new CBO update on the federal budget deficit.

If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $642 billion, CBO estimates, the smallest shortfall since 2008.

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