#Economy

Download the pdf: Social-Security-Replacement-Rates_Nudging-in-the-Wrong-Direction.pdf Introduction Social Security reform is both necessary and urgent, yet Congress remains reluctant to act.[1] This political inertia is primarily the result of two factors. First, the combined Social Security trust funds (OASDI) are projected to remain…

Introduction With inflation rising and economic growth slowing, the Federal Reserve (Fed) faces the difficult task of curbing inflation without causing a recession. The Fed fights inflation with higher interest rates which reduce the demand for goods and services.…

Introduction Since the last major Social Security reforms enacted in 1983, every annual Trustees’ report has projected benefits would exceed payroll taxes (plus income taxes on benefits) by 2021 or earlier, and the combined retirement and disability trust funds…

On March 28, President Biden released his budget proposal for the upcoming 2023 fiscal year. Though it has little chance of being enacted in its entirety, the plan will shape the contours of the final spending and revenue policies…

Introduction As the Democratic majority in Congress attempts to finalize their nearly $2 trillion social spending plan, one issue that will soon come into sharper focus is President Biden’s campaign promise not to raise taxes on anyone making…

Introduction The annual Social Security and Medicare Trustees’ reports make numerous economic and demographic assumptions to project the long-term financial status of these two programs. Among these assumptions is the average number of births women will have over their…

Part 1: Children Introduction President Biden’s FY 2022 budget proposes to spend nearly $1.7 trillion over the next ten years on several new or expanded entitlement programs for children, college students, the elderly, and the disabled. The budget also contains…