Social Security
  • How to Raise More Than $1 Trillion for Social Security

    By Michael Rainey

    One of the more popular ideas for improving the finances of the Social Security system is to raise the maximum level of income that is exposed to FICA (Federal Insurance Contribution Act) taxes...

  • A homeless woman sits on a bench few blocks away from the White House in downtown Washington

    Chart of the Day: Record Low Poverty Rate

    By Michael Rainey

    The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...

  • Social Security and Medicare taxes

    Democrat's New Taxes Wouldn't Hit Just Billionaires

    By Michael Rainey

    Some Democratic tax proposals are focused on making millionaires and billionaires pay more, but other households would be affected as well. Neil Irwin of The New York Times points out Tuesday that...

  • Former Republican presidential candidate Mitt Romney gestures as he speaks at the Republican National Committee Winter Meeting in San Diego, California January 16, 2015.  REUTERS/Mike Blake

    How Mitt Romney Wants to Save Social Security and Other Trust Funds

    By Michael Rainey

    A bipartisan group of lawmakers led by Utah Republican Sen. Mitt Romney introduced legislation Tuesday that would create new congressional committees focused on the fiscal health of federal trust...

  • Number of the Day: $23 a Month

    By Michael Rainey

    The Social Security Administration on Thursday said the cost-of-living adjustment for 2020 would be 1.6%. That translates to a bump of about $23 on the average monthly benefit of $1,460. The 2020...

  • District of Columbia

    CBO Offers 121 Ways to Shrink the Deficit

    By The Fiscal Times Staff

    The Congressional Budget Office has released a 326-page guide that describes dozens of ways the federal government could reduce its large and growing budget deficit. The 121 policy options included...

  • Moody’s Warns of Declining US Fiscal Strength

    By The Fiscal Times Staff

    Trump’s tax cuts combined with a slowing economy will diminish the United States’ “fiscal strength” over the next 10 years, Moody’s Investor Service said Wednesday. The gradual decline could pressure...

  • 3 Ideas for Fixing Social Security

    Social Security’s trustees reported earlier this year that the program will spend more than it collects in 2018 , requiring it to tap into its $2.9 trillion trust fund to cover benefit payments. It’s...

  • Transfer Payments Hit $3 Trillion Annual Pace

    By The Fiscal Times Staff

    Total government transfers reached $3 trillion on an annualized basis for the first time in September, according to data released by the Bureau of Economic Analysis Monday. Transfer payments include...

  • Democrats Take Aim at Republicans on Entitlement Cuts

    By Michael Rainey

    Democrats have a new sledgehammer of a study they can use in trying to link Republican tax cuts and proposed cuts to Medicare, Social Security and other social welfare programs. A report released...