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Social Security: Just the Facts Video
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Discuss: Share in our Policy Ideas
Challenges and Opportunities for Retirement Security
We are truly at a crossroads with respect to retirement security in America. We have an opportunity to improve and build on what we have in the longer run, but only if we effectively address some short-term challenges. We need to do several things or we will lose our opportunities:
Find a forum where diverse stakeholders will work together effectively – those who represent the public, labor and business must work together to strengthen the system. Repeated failure to work together has led to regulatory instability and chaos that for decades has been a major contributor to the decline of pensions and loss of retirement security.
Read More…A Social Security Fix for 2008
In the Oct. 19 editorial " Mr. Giuliani's No-Tax Pledge ," The Post stated: "It's no more responsible for Republicans to rule out tax increases [to strengthen Social Security] than it is for Democrats to insist on no benefit cuts." The Post praised, as a "bipartisan blend," President Ronald Reagan 's acceptance of a 1983 fix that included both.
I take exception. It's the essence of responsibility, in my view, to insist on no benefit cuts. In 1983, I served on the National Commission on Social Security Reform (better known as the Greenspan Commission) and represented House Speaker Tip O'Neill in negotiations with the White House . What was right in 1983 -- a balanced package of benefit cuts and tax increases as part, roughly half, of the final agreement -- would be wrong today.
Read More…A Prime Target for Health Care Reform: The $300 Billion, Yes Billion, Spent Wastefully on Processing Bills
Over 15% of the medical care dollar gets spent on “processing bills, claims and payments” according to a McKinsey Quarterly analysis.1 That tots up to some $300 billion a year. In contrast, Medicare spends about 3% of its outlays for administration.
Read More…The Economical Way to Assure Medical Care for Children and Young People That Also Reduces Strains on Family, Business and State Budgets: Medicare
President-elect Obama’s proposed health care reform includes a requirement of mandatory, universal, and comprehensive health care coverage for all children. No reform is more urgent, offers greater returns, or is more readily achieved at such low cost.1
Read More…Towards Guaranteed Retirement Security
American workers lack pension security, beyond Social Security, because individual commercial retirement accounts are tied to the volatility of finance markets, are inadequately funded, have poor net-of-fees returns, and do not pay a guaranteed rate of return for the rest of a retiree’s life. Also, employers have conflict of interests between their needs and their workers' needs when choosing 401(k) investment vehicles. Pension coverage is stuck at half of the workforce
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