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Social Security

Monday, July 11, 2011

How Would Shifting to a Chained CPI Affect Elderly and Disabled Americans and the Federal Budget?

Virginia P. Reno, National Academy of Social Insurance

Shifting to a new CPI to lower future Social Security benefits is part of current debt ceiling negotiations. Some call for using the new consumer price index to make cost-of-living adjustments (COLAs) in Social Security and other federal benefits and to adjust brackets in the federal income tax code. Proponents of the new index – the chained CPI-U – describe it as a technical correction that would make the benefit adjustments more accurately reflect the cost of living experienced by average consumers. In fact, the chained CPI-U falls short of reflecting the living costs of the elderly and disabled because it does not take account of their higher out-of-pocket spending for health care. NASI has two fact sheets on this topic.

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Monday, June 20, 2011

The Case Against Cutting Social Security

Virginia P. Reno, National Academy of Social Insurance

The case against cutting Social Security is strong.

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Posted on June 20, 2011  |  2 comments  |  Add your comment
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Wednesday, March 30, 2011

Views from the Stakeholders of OASDI: Employers, Workers, and Vulnerable Communities

Rachel Frazier, Borchard Fellow, National Senior Citizens Law Center

How should we evaluate proposed changes to Social Security?  Whose perspective should we take when judging the strengths and weaknesses of social insurance policy? In “Views from the Stakeholders of OASDI: Employers, Workers, and Vulnerable Communities,” Session III of NASI’s 23rd annual policy research conference, four groups were represented as stakeholders of Social Security: employers, workers, children and families, and persons of color.

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Tuesday, February 22, 2011

Improving Social Security’s Benefits is Critical to Economic Recovery and Security

Alex Stone, Communications Manager, Economic Opportunity Institute

At NASI’s 2011 annual conference, the session “Should We Adopt the Social Security Recommendations of the Fiscal Commission Co-Chairs?” demonstrated the complexity of the Social Security reform debate.

Charles Blahous, a Social Security trustee, argued in favor of adopting the Fiscal Commission proposals, which he characterized as a “reasonable compromise” because it utilizes ideas from both sides of the aisle.

Andy Stern, a member of the Fiscal Commission, ultimately voted against the co-chairs’ proposal. He emphasized that while a crisis exists, it is of middle class retirement security in general – not Social Security – due to shrinking personal savings, fewer pension plans, and the erosion of family-wage jobs.

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Posted on February 22, 2011  |  Write the first comment
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Wednesday, February 16, 2011

Social Insurance Programs and the President’s Budget

Virginia Reno, National Academy of Social Insurance

Lee Goldberg, National Academy of Social Insurance

Tom Bethell, Visiting Scholar, National Academy of Social Insurance

President Obama’s February 14th budget proposal for fiscal year 2012 would freeze or reduce funding for many federal programs as part of a strategy to begin reducing the federal deficit. The nation’s major social insurance programs – Social Security and Medicare – appear to have been exempt from such changes, at least for the moment.

The release of the President’s budget proposal is, of course, only the beginning of what will be a difficult and unpredictable negotiating process with a divided and contentious Congress. In the course of negotiations the pledges made this week by the President could be markedly altered, with potentially long-term consequences for the people who rely on these social insurance programs.

Social Security
Under the heading “Secure Social Security,” the President’s budget message states:

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Posted on February 16, 2011  |  1 comment  |  Add your comment
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