Medicare Premium Hikes Wiping Out Increases in Social Security Benefits

By: Monday March 28, 2011 8:35 am

Duck Durbin says that it would be “extremely difficult” to round up 60 votes for any changes to Social Security. But in a way, the Social Security benefit is being cut already. For the past two years, there have been no changes to the cost of living adjustment, despite increases in the core costs for [...]

Social Security Options in the Grand Bargain

By: Wednesday February 16, 2011 10:31 am

One of the more glaring possible outcomes in the grand bargain would be a plan to “reform” Social Security for the long term. The President was praised by the Strengthen Social Security coalition for not proposing benefit cuts in the State of the Union or the 2012 budget proposal. The budget also added funds to [...]

Recap: Busy Night for House, Senate

By: Thursday December 9, 2010 6:37 am

Let’s recap what turned out to be a busy Wednesday in Congress, particularly in the House. We’ll start with the Senate: • The Senate actually planned as many as 5 cloture votes yesterday, but only got around to 2. Senators failed to invoke cloture on a collective bargaining bill for firefighters and police (which would [...]

Senate GOP Blocks Consideration of Tax Plan Extending Rates on First $250K and First $1M

By: Saturday December 4, 2010 8:17 am

Republicans united in the Senate to block a $3.2 trillion dollar tax cut today, stopping consideration of an extension of tax rates for every worker in America on the first $250,000 of income. The final vote on the motion to proceed was 53-36. All Republicans, at least the ones who showed up, voted against the [...]

Why the Bowles-Simpson Social Security Recommendations Aren’t Adequate

By: Monday November 15, 2010 9:04 am

Peter Orszag writes about the Bowles-Simpson recommendations on Social Security, and generally finds them amenable. I don’t know why this should come as a surprise – they basically take a similar form as his Diamond-Orszag recommendations, with a mixture of benefit cuts and payroll tax increases to arrive at long-term solvency. Orszag rightly notes that [...]

No COLA for Social Security for the Second Year in a Row

By: Tuesday October 12, 2010 7:34 am

Seniors will see no cost of living adjustment in Social Security for the second year in a row, due to low inflation and practically no increase in the Consumer Price Index. Most of the articles about this focus on the political implications. This is just the second year since 1975 that seniors will not see [...]

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