Thanks to a new analysis by Social Security’s chief actuary of several possible changes to the program — which the House Subcommittee on Social Security released today — we can calculate the size of the Social Security benefit reductions that Rep. Paul Ryan’s much-discussed budget plan would generate (I analyzed the Ryan plan as a whole earlier this year. Here’s my new analysis of the plan’s Social Security component.)
BEYOND THE NUMBERS
The Rockefeller Institute of Government issued a report today that says state revenues are in a “gradual recovery” after their record decline of recent years. The new data that Rockefeller has collected for the report (on revenues for the April-June quarter) are helpful. But it’s too early to say that state finances have turned the corner.
The most curious aspect of the feverish debate over tax cuts is that President Obama cut taxes for more than 90 percent of working Americans, yet more than 90 percent of Americans have no idea this happened.
Describing the social and economic costs of growing income inequality, economist Robert Frank explained in yesterday’ New York Times that while the first three decades after World War II were a time of broadly shared prosperity, income gains over the next three decades went almost entirely to the very wealthy. You can see the striking contrast in the graph below.
This week on Off the Charts, we wrote about poverty, state budget shortfalls, health reform, Social Security, and Temporary Assistance for Needy Families (TANF).
Benefits from the Temporary Assistance for Needy Families (TANF) program, which are set by the states, fall far short of providing for families’ basic needs, says a report we issued yesterday.
Tomorrow, new figures from the Labor Department are expected to confirm that for the second year in a row, Social Security recipients will receive no cost-of-living adjustment (COLA) in January. Nevertheless, people who have been receiving Social Security for a few years are still ahead of the inflation game. Here’s why:
A provision of the health reform law that took effect last month prohibits insurers from denying coverage to children with pre-existing health conditions. As a result, for the first time in most states, families with children with serious illnesses, chronic conditions, and special health care needs will be able to purchase coverage for their children in the individual health insurance market. But some insurance companies are resisting the change — and Health and Human Services (HHS) Secretary Kathleen Sebelius issued a letter today clarifying what insurers can and can’t do under the new rules.
Yesterday I posted about state budget conditions. Readers may want to know how we calculate state shortfalls. Here are the basics:
Today, we sat down with Arloc Sherman, Senior Researcher in the Center’s Welfare Reform and Income Support Division, to discuss “deep poverty” and how it affects families.