As long as there is a positive balance in the trust funds, the Treasury secretary has both the authority and the obligation to make scheduled trust fund payments. Even though Congress intended to prohibit the use of the Social Security…
As Wall Street economists and federal budget analysts began pouring over the April tax returns last week, looking for clues to when the government might run out of borrowing authority, there was a significant development on the political front. House…
This year’s reports from the Social Security and Medicare trustees demonstrate an urgent need for action to avoid severe cuts that would threaten retirement income and access to medical care for beneficiaries. Unfortunately, the political will to remedy this situation…
The president’s heavy reliance on tax increases to reduce future deficits, even while increasing spending, obviously makes his budget “dead on arrival” with House Republicans. On the other hand, a deficit reduction plan based solely on spending cuts, as Republicans…
