Social Security

Conversations about the nation’s budget should be about spending priorities and the resources necessary to accomplish them: the people, materials and time. And those conversations should include the benefits of those spending priorities to the well-being of we, the People. This page is for links to research, proposals and commentary related to defending and expanding Social Security. An example of nice things we — the people — can have.

“What is true of government as a whole is also true of particular programs. Social Security and Medicare are government programs; they cannot go bankrupt, and they cannot fail to meet their obligations unless Congress decides–say on the recommendation of the Simpson-Bowles Commission–to cut the benefits they provide. The exercise of linking future benefits and projected payroll tax revenues is an accounting farce, done for political reasons. That farce was started by FDR as a way of protecting Social Security from cuts. But it has become a way of creating needless anxiety about these programs and of precluding sensible reforms, like expanding Medicare to those 55 and older, or even to the whole population.”

— James K. Galbraith In Defense of Deficits March 4, 2010

Background & Research

Historical Background And Development Of Social Security Social Security Administration

Social Security: Truth or Useful Fiction?
— L.Randall Wray Center for Full Employment and Price Stability

Financial Aspects of the Social Security “Problem”
— Stephanie Bell Kelton (@StephanieKelton), L. Randall Wray, Center for Full Employment and Price Stability June 2000

Does Social Security Need Saving? Providing for Retirees throughout the Twenty-first Century
— Dimitri B. Papadimitriou, L. Randall Wray The Jerome Levy Economics Institute of Bard College 1999

Response

Here‘s a Kelton Twitter thread on Social Security, Medicare and payroll taxes.

On the Security of Social Security
— Max Mastellone (@MaxMastellone), Medium, Aug 24, 2018