Social Security

Presidential candidates largely mum about details on how to ‘save’ Social Security 

BY: - January 8, 2024

WASHINGTON — The winner of this year’s presidential election could very well be holding the reins when it comes time to address Social Security’s complicated financial situation. The program, which millions of retirees depend on for income stability, will see benefits cut by nearly a quarter in 2033 if Congress and the White House haven’t […]

U.S. Senate panel advances former Maryland governor’s nomination to lead Social Security

BY: - November 28, 2023

WASHINGTON — Former Maryland Gov. Martin O’Malley moved one step closer Tuesday to becoming the next Social Security commissioner, a role that would become increasingly difficult as the program inches closer to insolvency during the next decade. The U.S. Senate Finance Committee voted 17-10 to send O’Malley’s nomination to the floor, though it’s not clear […]

Higher taxes on the wealthy would bolster Social Security, U.S. Senate Dems argue

BY: - July 12, 2023

WASHINGTON — U.S. senators debated Wednesday how best to resolve a funding cliff within Social Security that will lead to a quarter reduction in benefits in about a decade, absent action from Congress. Democrats on the Budget Committee, led by Chair Sheldon Whitehouse of Rhode Island, called for lawmakers to increase taxes on the country’s […]

A default on the U.S. debt would be far worse than a government shutdown. Here’s how.

BY: , , and - May 22, 2023

WASHINGTON — A U.S. default on its debt would have a significantly broader impact on federal operations, financial markets and the global economy than recent government shutdowns that have left ordinary Americans largely untouched. While the two have been confused frequently during debate over the debt limit, the federal government has had considerable practice with […]