When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, June 29, 2014

Fixing Social Security is Easy! The Politics is Hard!

screenshot of the social security game

I fixed Social Security in less than five minutes using the dashboard here. The politics is the hard part--and I'm no politician --

Embrace Your Mistakes - Bloomberg View: "Anyone looking to make sure the retirement fund can meet its obligations should consider the following options: Raise the payroll-tax rate, raise the ceiling on taxable income, increase the retirement age, means test benefits, tax benefits, lower the cost-of-living adjustment, reduce benefits, or any combination of the above. The American Academy of Actuaries has even set up a dashboard where you can tweak these approaches. It turns out to be surprisingly easy to numerically make Social Security very solvent. It’s the politics that are so challenging."

Play the Social Security Game

Published on AmericanAcademyOfActuaries (http://www.actuary.org)

The Big Picture

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