Tag Archives: Social Security

Good News Coming On The Deficit. Well, Sort Of.

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Syriza party leader Alexis Tsipras hopes to prevail in today's Greek elections, which could mark a turning point in his nation's struggle against a crushing load of debt. Meanwhile, U.S. government deficits are improving. Sort of.

Syriza par­ty leader Alex­is Tsipras hopes to pre­vail in today’s Greek elec­tions, which could pro­voke a show­down between Euro­pean lead­ers and Greece, which strug­gles under a crush­ing load of debt. Mean­while, U.S. gov­ern­ment deficits are improv­ing. Sort of. [Cred­it: BBC]

On Tues­day morn­ing, the Con­gres­sion­al Bud­get Office will announce that the fed­er­al deficit con­tin­ued to decline last year.

The announce­ment will trig­ger an orgy of self-con­grat­u­la­tion in Wash­ing­ton.  The Admin­is­tra­tion will claim that its poli­cies have been vin­di­cat­ed.  Repub­li­cans also will take a bow, tout­ing spend­ing con­straints they’ve imposed since win­ning the House majority.

But you’ll hear noth­ing from the Wash­ing­to­ni­ans who most deserve cred­it for reduced deficits: the Fed­er­al Reserve Board of Gov­er­nors.  By hold­ing inter­est rates near zero and lend­ing tril­lions in free mon­ey to the Trea­sury, the Fed has allowed the gov­ern­ment to reduce deficits even as it gorged on debt. Con­tin­ue read­ing →

When Dead Men Rule

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G.K. Chesterton worried that our predecessors would have too little influence on our politics. But Gene Steuerle says that they have too much. [Credit: christiancompletely blog]

G.K. Chester­ton wor­ried that our ances­tors would have too lit­tle influ­ence on our soci­ety. But a new book by the Urban Insti­tute’s Gene Steuer­le says that they exert too much con­trol over our pol­i­tics. [Cred­it: chris­tian­com­plete­ly blog]

“Tra­di­tion means giv­ing votes to the most obscure of all class­es, our ances­tors.  It is the democ­ra­cy of the dead.” – G.K. Chester­ton

Chester­ton fret­ted that mod­ern democ­ra­cies might show too lit­tle def­er­ence to past gen­er­a­tions.  But accord­ing to the Urban Institute’s Gene Steuer­le, the very oppo­site is true: in Amer­i­can democ­ra­cy, dead men rule. Con­tin­ue read­ing →

Tolerance, The Amish And Hobby Lobby

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Pamela Harris, shown here with her disabled son, prevailed at the Supreme Court this week in her challenge to an Illinois law requiring her to pay union dues. [Credit: Heartland Institute]

Pamela Har­ris, shown here with her dis­abled son, pre­vailed at the Supreme Court this week in her chal­lenge to an Illi­nois law requir­ing her to pay union dues. [Cred­it: Heart­land Institute]

For a brief time dur­ing the 1980s, I was Direc­tor of Pol­i­cy Devel­op­ment for the Social Secu­ri­ty Admin­is­tra­tion.  The title is more glo­ri­fied than the real­i­ty.  Social Secu­ri­ty is a big and ossi­fied pro­gram that resists “pol­i­cy devel­op­ment.”  Con­gress, ever cog­nizant of the polit­i­cal risks of tam­per­ing with the pro­gram, had been forced by its loom­ing insol­ven­cy to pass a mas­sive law hik­ing pay­roll tax­es and rais­ing the retire­ment age just a few years before.  They were in no mood to enter­tain addi­tion­al legislation.

But my job was to pre­pare options for the Commissioner’s con­sid­er­a­tion, so I met with career staff who had an idea: why not advo­cate for a bill requir­ing self-employed Amish farm­ers to pay social secu­ri­ty tax­es? Con­tin­ue read­ing →

Welfare or Work: A Difficult Choice

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The choice between welfare and work is not always an easy one, according to a new study by the Cato Institute. (Credit: LA Times)

The choice between wel­fare and work is not always an easy one, accord­ing to a new study by the Cato Insti­tute. (Cred­it: LA Times)

(NOTE: This post was updat­ed on Sep­tem­ber 23 to incor­po­rate the gov­ern­men­t’s new­ly-released pover­ty rate data.)

If forced to choose between a full-time job that paid $24.40 per hour and enrolling in a pack­age of gov­ern­ment ben­e­fits that paid a com­pa­ra­ble amount, which would you choose? Con­tin­ue read­ing →

America’s Shrinking Workforce

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Unemployment officeAmer­i­ca had a bad week. We once again were remind­ed that ter­ror­ism rep­re­sents a con­tin­u­ing threat, that indi­vid­u­als poi­soned by hate­ful ide­ol­o­gy can inflict great harm. We were also remind­ed that we are capa­ble of respond­ing to these bru­tal acts, as Pres­i­dent Oba­ma said, “Self­less­ly. Com­pas­sion­ate­ly. And unafraid.”

Ter­ror­ism presents a chal­lenge to which we’ve yet to for­mu­late a durable response. We remain vul­ner­a­ble, despite the government’s con­tin­ued efforts to keep us safe.

There is anoth­er prob­lem, less hor­rif­ic in its imme­di­ate effects but no less intractable, that also is get­ting the bet­ter of us: the prob­lem of job­less­ness. Con­tin­ue read­ing →

Budget Wars: Can They Bridge the Health Care Gap?

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Bud­get debates make good polit­i­cal the­ater. Each par­ty forces record­ed votes designed to score polit­i­cal points and embar­rass mem­bers of the oppos­ing par­ty. The House had fun yes­ter­day with some amend­ments before adopt­ing the Repub­li­can pro­pos­al writ­ten by Paul Ryan (R‑WI). The Sen­ate began debate on its pro­pos­al last evening and is brac­ing for Friday’s “vote-a-rama” – a day of record­ed votes on dozens of polit­i­cal­ly-barbed amend­ments advanced by mem­bers of both par­ties. Con­tin­ue read­ing →