Social Security, instituted in 1935, has provided tens of millions of Americans with income for retirement. Currently, more money is collected in Social Security taxes from workers than is paid out to retirees. But that ratio is reversing as “baby boomers” start to retire and the workforce shrinks due to the recession. Options to close the gap include more borrowing, higher taxes or reduced benefits.
Shameful, bipartisan acceptance of inflation on the poor
March 18, 2015, Henry J. Aaron
Henry Aaron explains that while Supplemental Security Income for the the poor has been indexed to inflation, many of the provisions that determine access to benefits have not been, thereby denying access to many who would have been eligible for assistance in the past.
Retirement, Saving and Pensions
U.S. Economic Performance
U.S. Budget Deficit
The Federal Budget
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Henry J. Aaron
Senior Fellow, Economic Studies
The Bruce and Virginia MacLaury Chair
Isabel V. Sawhill
Co-Director, Center on Children and Families, Budgeting for National Priorities
The John C. and Nancy D. Whitehead Chair
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