MSN Money Thinks Millennials’ Retirement Plan Should Be a Cabin in the Woods Stockpiled With Bullets

By: Thursday March 27, 2014 9:04 am

The people over at MSN Money have some pretty insane advice for young people about retirement if you actually try to follow their logic. In their article “10 retirement myths that can crack your nest egg” the number one myth concludes with: And don’t forget that you may not be able to rely on Social [...]

The Biggest Progressive Victory of 2014 So Far Was Against Obama, Not With Him

By: Friday February 21, 2014 8:19 am

Since we are only seven weeks into 2014 I feel confident calling President Obama’s decision to remove the chained-CPI Social Security benefit cut from his budget the biggest victory for progressives so far this year. The change is bigger than simply the removal of a line from a budget. It symbolizes a victory over the [...]

Obama’s Budget Drops Big Social Security Cut

By: Thursday February 20, 2014 10:27 am

President Obama’s new proposed budget won’t include cutting Social Security benefits by adopting a chained-CPI. The AP reports the White House has dropped the controversial change. Last year in a desperate final attempt to spur a grand bargain Obama put forward a “compromise” budget which included entitlement cuts like chained-CPI. Despite upsetting many Democrats, the [...]

Will MyRA Be a Path to More or Less Financial Protection?

By: Friday January 31, 2014 7:56 am

What I find intriguing about President Obama’s MyRA program is that for now it is a very small idea but it has potential to lead to both some very good and very bad outcomes. For the Good – Theoretically, it could end up being the humble start of a basic public banking system that would [...]

What Is the Real Point of MyRA?

By: Wednesday January 29, 2014 12:02 pm

One of the few concrete executive actions in the State of the Union address was President Obama’s plan to start MyRA. It is framed as a low cost government backed retirement saving bond/account. The more I learn about it the less sense it seems to make. It is really not very different from what is [...]

DC Politics of Social Security Are Shifting to the Left

By: Friday December 6, 2013 11:00 am

This is what shifting the political debate really looks like. It is when you see politicians cynically scrambling. From Huffington Post: Rep. Allyson Schwartz (D-Pa.) signed on as a cosponsor to a bill to increase Social Security benefits one day after a centrist Democratic think tank she is affiliated with slammed the idea in a Wall [...]

Why I’m Less Worried About a Grand Bargain

By: Wednesday October 23, 2013 9:56 am

President Obama has always wanted a grand bargain to cut Social Security benefits. As long as he is in office it is a real concern, but every day it seems less and less likely Republicans would ever agree to work with him.

The Progressive Silver Lining From the Shutdown Fight

By: Friday October 18, 2013 7:25 am

The country learned something very important during this shutdown. Mainly, that Speak John Boehner is a coward with no control of his caucus and an unwillingness to cross his most conservative members unless absolutely necessary. Indirectly this is great news for Social Security. Boehner stuck with his conservative members on a strategy he know was [...]

Anti-Tax Republicans Once Again May Save Social Security

By: Tuesday July 30, 2013 7:02 am

Despite a half dozen failed tries to get a grand bargain, President Obama is still working hard at a new attempt. Fortunately, this latest effort seems likely to fail for the same reason as all the others. From Politico: They’ve been wined and dined by President Barack Obama, spoken repeatedly with the White House chief [...]

Trustee Report: Social Security Trust Fund to Last Another Two Decades

By: Friday May 31, 2013 8:41 am

The financial picture for Social Security remains essentially unchanged since last year while things have improved slightly for Medicare according to the Social Security and Medicare Boards of Trustees. The Social Security trust fund is still projected to be solvent for 20 years. From the Treasury: When considered on a combined basis, Social Security’s retirement [...]