Jun 9, 2016

Blahous And Reischauer Nominations Barely Clear Finance Committee

     The re-nominations of Charles Blahous and Robert Reischauer to Social Security's Board of Trustees were narrowly reported out of the Senate Finance Committee yesterday by a vote of 14-12 for each. 
     Blahous's nomination has been criticized because he has been a consistent advocate for Social Security "reform" that would cut benefits. I think it would be fair to say that he is philosophically opposed to the concept of social insurance and wishes to undermine it in any way possible. Reischauer has been opposed to the sorts of cuts that Blahous advocates but he hasn't been an advocate for increasing Social Security benefits.
     In any case, Social Security's Board of Trustees has no power. The Trustees have no role other than to sign off on a yearly report that is really the product of Social Security's actuaries. It's little more than a ceremonial position.

1 comment:

Joseph Russo said...

s far as judging breakouts goes, I really just go completely off of price action. You can use my post on technical indicators as an example, once we get that breakout I give it a chance to work but if a key support level snaps I'll get out and cut my loss.
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