Social Insecurity

How secure is the Social Security program? According to the Board of Trustees, trust funds will be exhausted three years quicker than earlier projections. In reality, the problem is more severe than it appears at first glance.

The Looting of Social Security: The So-Called Trust Fund “Bonds”

The Social Security Amendments of 1983 included a hefty payroll tax hike that was designed to generate large Social Security surpluses for about 30 years. These surpluses were supposed to be saved and invested in marketable U.S. Treasury bonds, which could later be resold to finance benefits for the baby boomers. The author says this has not happened and points to some examples.

The Looting of Social Security: Pre-taxing the Baby Boomers

On April 20, 1983, one of the most significant developments in the history of Social Security legislation took place with great fanfare. It was the signing ceremony for the Social Security Amendments of 1983, which President Ronald Reagan called landmark legislation. The author says it laid the foundation for what was to become one of the greatest frauds ever perpetrated against Americans by the government.

Deficit Reduction Commission Proposals Are Still Around: What Will It Mean for Your Pay and Benefits?

The deficit reduction commission made a number of proposals late last year, including some that would impact federal pay and benefits. President Obama has not endorsed the recommendations. That may be about to change. Here is a summary of proposals from this commission that would impact the federal workforce and retirement programs.