Will Social Security Be There?

Here starts a mini-series of TGIF 2 Minutes editions.

The following is taken directly from the current Social Security website. The italics below are copied from the website and presumably are meant for emphasis. Underlines are mine.

The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security but are not well understood. Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits. This increase in cost results from population aging, not because we are living longer, but because birth rates dropped from three to two children per woman. Importantly, this shortfall is basically stable after 2035; adjustments to taxes or benefits that offset the effects of the lower birth rate may restore solvency for the Social Security program on a sustainable basis for the foreseeable future. Finally, as Treasury debt securities (trust fund assets) are redeemed in the future, they will just be replaced with public debt. If trust fund assets are exhausted without reform, benefits will necessarily be lowered with no effect on budget deficits.

Continue reading “Will Social Security Be There?”

10 Things NOT Talked About at Thanksgiving

We all know the “Basic 3” topics NOT recommended for talk around the Thanksgiving table: Sex, Politics and Religion. Two others on the list are Money and various Family Matters.  The gloves can tend to come off, feelings hurt and more.

Touchdown-Jesus

But there are times when several of these topics must be addressed – keeping in mind that “there is a time and place for everything”.  So, in that vein, here is a list of at least 10 topics that were most likely NOT discussed at Thanksgiving but that may be important and remain on lots of peoples’ minds: Continue reading “10 Things NOT Talked About at Thanksgiving”