Your source for news affecting the U.S. Social Security Administration/© Charles T. Hall
The president's budget proposal is due out Mar 4. Given the new progressive push to expand S.S., it will be interesting to see if Obama continues with Chained CPI and "automatic IRA's" language. Neither would indicate any interest by the president to expand S.S..The SSA has reported the cash shortfall for 2010 as $75B. I think the feds will continue to try to cut benefits to alleviate these shortfalls. If they can achieve and maintain a money in equals money out balance, the trust fund is never repaid. Any mention by the president of his desire to address the "retirement crisis" through "super IRA's" or "automatic IRA's" would be a huge tell. The goal of such accounts is nothing less than privatization of S.S.
Correction: last paragraph: 2010 should read 2013.
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