Part two of a two-part series. Spending on entitlements is mandatory, but paying for them is often pushed into the future. In spite of all the tax revenue used to…
Federal Help Often Hurts
Part one of a two-part series. Federal entitlement programs, which are created to address social issues, often make matters worse. They also cost more than initially projected and they are…
Why the U.S. Is Broke: Part Three
So why do we have so much debt? The federal budget can help answer that question. The largest items in the federal budget are Medicare and Medicaid, which account for…
When There Are More Jobs than Job Seekers
Yesterday, we looked at the record-breaking (Job Openings and Labor Turnover Survey) JOLTS data, which provided good news for American workers. But having more job openings than people looking for…
Entitlements Are Bankrupting America
Since the end of World War II, federal tax revenue has grown 15% faster than national income. Federal spending, though, has grown 50% faster. These two statistics should scare all…
Six Social Security Changes Taking Place This Year
The good news for retirees is that they can expect more benefits this year from the Social Security Administration (SSA). The bad news is that the retirement age and earnings…
For Most Retirees, Social Security Is Main Source of Income
We’ve previously documented that the Social Security system is going broke. Fortunately for America’s retirees, Congress, the president and those in the Social Security Administration (SSA) can’t allow that to…
Working Late
For the baby boom generation, 70 is the new 60. That’s not only because baby boomers are living longer than previous generations, but because they’re working longer. During the most…
More Than $1 Million per Taxpayer Owed – and Climbing
It seemed tragic back in October 1981 when the federal debt reached $1 trillion. How would we ever pay back $1 trillion? The real tragedy, though, is what’s happened since…
Social Insecurity: Another Reason We’re Going Broke
Except for recent contributions, all of the money that you’ve contributed to the Social Security system throughout your lifetime has already been spent. That’s because Social Security is a pay-as-you-go…