Moving and Retirement
A Subject for the Next Debate? A New CBO Report on Social Security's Funding Gap
In calendar year 2010, for the first time since the enactment of the Social Security Amendments of 1983, spending for the program exceeded its dedicated tax revenues. In 2011, spending exceeded dedicated tax revenues by 4 percent, and that gap is growing. CBO projects that over the next decade, spending will exceed dedicated tax revenues, on average, by about 10 percent. more »
Asking the Question: Have You Ever Used a Government Social Program?
John Wihbey writes: Programs included the Home Mortgage Interest Deduction; the HOPE and Lifetime Learning Tax Credits; Child and Dependent Care Tax Credits; 529 (Qualified Tuition Program) or Coverdell Education Savings Account (education IRAs); the Earned Income Tax Credit; and “usage of student loans and employer subsidized health and retirement benefits.” more »
Death Takes a Policy: How a Lawyer Exploited the Fine Print and Found Himself Facing Federal Charges
Rhode Island prosecutors say that Joseph Caramadre is an unscrupulous con artist who engaged in identity theft, conspiracy and two different kinds of fraud. Prosecutors contend he deceived the terminally ill to make millions for himself and his clients. His criminal trial is scheduled to begin in November. more »
We Have Another Five Years? Underestimating Longevity and Working in Retirement
In the past half-century, life expectancy for newborn Americanfemales, the average increase was about 1.5 years per decade, from 73.1 years in 1960 to 80.8 years by 2010. “There is a general misunderstanding of what ‘average life expectancy’ means, and when people are told they will live to an age such as 80 or 85, they don’t realize that this means there is a 50 percent chance that they could live past that age.” more »