Tag Archives: Social Security Works

Hank Aaron’s Chinese menu: Fixing Social Security at the NASI

The National Academy of Social Insurance hosted a decidedly unusual trio of luncheon speakers at its annual conference last week. Henry J. Aaron of the Brookings Institution, keynote, was there to unveil a new plan he’s devised to solidify Social Security’s funding for the next 75 years, if not beyond. Nancy J. Altman, president of Social Security Works, and Jason Fichtner, a senior research fellow at the Mercatus Center at George Mason University, were on hand to respond to and discuss Aaron’s proposal.

Aaron has perhaps the deepest knowledge of the Social Security system – and social insurance in general – of anyone alive today. Altman is also a leading expert and a longtime, passionate defender of the program against right-wing attempts to dismantle it. Fichtner served in the Social Security Administration under George W. Bush and is a critic of the program who has argued that it crowds out private savings and offers negative incentives to work and who advocates stabilizing its finances by cutting benefits while cutting payroll taxes.

Aaron and Altman have never been friendly to such ideas. Normally, that would place them on one side of the Social Security discussion and Fichtner on the other. That wasn’t so last week.

Continue reading Hank Aaron’s Chinese menu: Fixing Social Security at the NASI

Obama “expands” the Social Security Conversation

President Obama’s statement last week that he supports expanding Social Security was indeed a watershed in the discussion of the program’s future. What happens next is not clear, however, not least because “expand” can mean so many things to people of different political persuasions.

We should be strengthening Social Security,” the president declared during an economic speech in Elkhart Indiana. “Not only do we need to strengthen it, it is time we finally made Social Security more generous and increase the benefits so that today’s retirees and future generations get the dignified retirement that they have earned.” Expansion, he said, should be financed by “asking the wealthiest Americans to contribute a little bit more.”

The location was important: Elkhart was the first city Obama visited after assuming the presidency, in the midst of the worst economic downturn since the Depression. Last week’s speech itself was meant to highlight the progress the economy has made since then. In staking out his new position on Social Security, “Obama is getting on board a movement that’s been brewing within the Democratic party for a while now,” write Nancy Altman and Eric Kingson, co-directors of the advocacy group Social Security Works, noting that a host of prominent figures including this year’s presidential candidates Bernie Sanders and Martin O’Malley and even Hillary Clinton (somewhat guardedly) have endorsed the idea and that Sanders and Elizabeth Warren, among others, have proposed action in Congress to expand benefits and pay for them by extending payroll tax to cover higher incomes. Continue reading Obama “expands” the Social Security Conversation

Social Security: It’s All in the Adjectives

People who want to cut Social Security benefits to lower future budget deficits are “reasonable” and “serious.” Moreover, economists have reached a “consensus” that this should be done. People who oppose balancing the budget on the back of Social Security recipients are “denialists” whose views are “maddening,” “crackpot,” “strident.”

The cartoonist R. Crumb once advised a young protege that to be good at the craft, he needed to draw his subject accurately – but then exaggerate it just a little bit. In polemical writing, adjectives are that little bit of exaggeration. Sprinkled sparingly through an otherwise competently argued piece, they create a slightly distorted view of the writer’s opponents without making the writer sound too angry or confrontational. The cumulative effect is stark: those on the same side as the writer are intelligent and reasonable. Those on the other side are not.

The adjectives applied to defenders of Social Security, quoted above, aren’t from Fox News, the Cato Institute, or a Rush Limbaugh broadcast. They are drawn from Continue reading Social Security: It’s All in the Adjectives

Simpson’s Opinion, or the Commission’s?

Former Sen. Alan Simpson, co-chair of the president’s National Commission on Fiscal Responsibility and Reform, was up to his usual antics the other day, calling Social Security “a milk cow with 310 million tits.” He’s apologized for that, after a fashion. The important thing, however, isn’t what he thinks, but whether his colleagues on the commission share his views.

When a child misbehaves serially at school, one of the first things his or her teachers ask themselves, understandably, is what’s going on at home. Where did he get that mouth? Where did she learn to fight like that? From his parents? From her older brothers and sisters?

Continue reading Simpson’s Opinion, or the Commission’s?