Category Archives: Social Security

Social Security’s Ridiculous Actuarial Predictions

NY Times – Social Security’s Flawed Forecasting: For the first time in more than a quarter-century, Social Security ran a deficit in 2010: It spent $49 billion dollars more in benefits than it received in revenues, and drew from its … Continue reading

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Another Pension Fund Fraud

Megan McArdle – Assets in Name Only Big news in pensions today: Silverdex, a major US-based conglomerate with fingers in just about every economic pie, from mining to solar cells, turns out to have been stuffing its main pension fund … Continue reading

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Many retirees getting less out of Social Security than they contributed

Associated Press – Is Social Security still a good deal for workers?: People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits … Continue reading

Posted in Population, Social Security | 2 Comments

The Word’s Shortest Political Quiz, Fiscal Sanity Edition

Are willing to discuss the national debt? If so you might be a Democrat. Are you willing to discuss the much larger problem of the Social Security funding shortfall? If so you might be a Republican. Are you willing to … Continue reading

Posted in Politics, Social Security | 3 Comments

Steve Crowder and I Got Taken in by a Ponzi Scheme

Social Security a Ponzi Scheme?! (CROWDER CALLS THE SEC!)

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Obama: “Gimme your taxes or I’ll take away Grandma’s check”

Washington Examiner – Washington gets $200 billion a month, Social Security costs $50 billion a month, and Obama is threatening to starve Grandma? Karl Denninger at the Market Ticker has an interesting take on this. For decades Social Security run … Continue reading

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Hungary, Bulgaria, Poland, Ireland, France, Bolivia Seize Private Pensions

Via Instapundit, European nations begin seizing private pensions: People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European … Continue reading

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Gold would need to go to $3500 to match the 1980 high

Gold is on a 10 year winning streak. It was $300 per ounce in 2000 and is $1,335 today. The question everyone is asking is how high will gold go? No one knows for sure, but one reference point is … Continue reading

Posted in Economics, Social Security | Tagged , , | 2 Comments

France Raises Retirement Age from 60 to 62

About damned time. Me, I was born in 1968 so I get to retire at 67. You know what this is? It’s the world’s smallest violin playing “My heart bleeds for the French people who can’t retire until 62.” Things … Continue reading

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Breaking News: John Kerry is still an idiot

John Kerry Says Voter Anger at Washington Is Hypocritical: “I think there’s a comprehension gap,” said Kerry. His point: While people may not be feeling the benefits of the bailouts and healthcare reform yet, Congress has been working with Obama … Continue reading

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“Texas doctors opting out of Medicare at alarming rate”

Houston Chronicle: The problem dates back to 1997, when Congress passed a balanced budget law that included a Medicare payment formula aimed at reining in spending. The formula, which assumed low growth rates, called for payment cuts if spending exceeded … Continue reading

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“Social Security is earning interest on those sweet, sweet Treasury notes”

In response to yesterday’s post, Social Security Outlook Worsens. Again, a reader named Patricia comments: The Social Security Trust Fund holds $2.5 trillion in government bonds. At the current interest rate of 4.5%, it receives around $112 billion in interest … Continue reading

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WA State Walgreen’s to Stop Taking New Medicaid Patients

Seattle Times – Walgreens: no new Medicaid patients as of April 16: Effective April 16, Walgreens drugstores across the state won’t take any new Medicaid patients, saying that filling their prescriptions is a money-losing proposition the latest development in … Continue reading

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Social Security Outlook Worsens. Again.

Reuters – Social Security to start cashing Uncle Sam’s IOUs: For more than two decades, Social Security collected more money in payroll taxes than it paid out in benefits billions more each year. Not anymore. This year, for the … Continue reading

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Generational Inequities in Social Security Payments

Will Baby Boomers Bankrupt Social Security?: Count Gen-Xer Tom Firey among those younger workers who think they’re getting the short end of the stick. The managing editor of the conservative Cato Institute magazine, Regulation, first wrote about the subject nearly … Continue reading

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