Social Security Reform: Should We Reduce Benefits?
Since its establishment in 1935, Social Security has grown to become the largest program in the federal budget.
https://www.pgpf.org/blog/2023/02/social-security-reform-should-we-reduce-benefits
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Since its establishment in 1935, Social Security has grown to become the largest program in the federal budget.
https://www.pgpf.org/blog/2023/02/social-security-reform-should-we-reduce-benefits
The Fed is not in the business of monetizing our government’s debt but is skating close to the edge, which has upped the risk of a misstep.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for February 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-february-2023
“Interest costs are skyrocketing to record levels, damaging our nation’s budget, economy and future," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The U.S. spends twice as much on prescription drugs as other comparatively wealthy nations, on average.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
An overwhelming majority of Americans, 82 percent, say the long-term national debt is an important factor when it comes to deciding how they will vote in the November midterm elections, according to a new poll released today by the Peter G. Peterson Foundation.
“Voters believe that managing our national debt is a top priority that should play a central role in this year’s election discussion,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/02/fci-press-release
The percentage of income that Americans pay in taxes can vary widely and depend on many factors.
"Even as both parties dream of sweeping the next election and imposing their own solution, the reality is that massive deficit reduction legislation requires bipartisan buy-in for public legitimacy and political sustainability," writes Brian Riedl.