Deputy Recovers From Paralyzing Ocean AccidentCongress has reallocated payroll taxes at least 9 times in the past to temporarily avert trust fund financing crises, according to the Congressional Research Service. "Doing so now would be much more difficult, because the retirement program is in cash deficit, and the government is borrowing money to cover retirement and survivor benefits," Cates points out. "Reallocation from the retirement trust fund would mean the government would have to borrow more, a recipe for more explosive debt limit show downs in coming months," he says. "The situation could put all Social Security benefits, including retirement and survivors benefits, at risk of cuts in debt limit negotiations," Cates explains..The data certainly suggests this is the case. The years in which inflation as measured by the Consumer Price Index for Workers has been the highest, the difference in the chained CPI was the greatest. The average difference between the CPI-W and the chained CPI is 0.3 tenths of a percentage point. But in 2005 when Hurricane Katrina sent gas prices through the roof, the CPI-W paid a COLA of 4.1% the following year. The chained CPI would only have paid 3.4% - a difference of 0.7 tenths of a percentage point. In 2008 the CPI-W paid a COLA of 5.8% the following year. The chained CPI would have only paid 5.2%, a difference of 0.6 tenths of a percentage point..Social Security recipients will get 2% cost-of-living adjustment effective January 201But despite it being the largest increase in five years, the news is being met with frustration from millions of retiree households who won't see any of the raise, primarily due to rising Medicare Part B costs. … Continued
Advice To Make Staying At Home More TolerableMany of you will no doubt remember that we used to celebrate both Washington's and Lincoln's birthdays separately. In 1968 Congress passed the Uniform Monday Holiday Bill, which moved several federal holidays to Mondays..The fate of President Obama's controversial executive action on immigration remains tied up in court. Texas and 25 other states, supported by TSCL, 12 other groups, and 113 Members of Congress are challenging the legality of Obama's actions. TSCL and the others argue in an amicus curiae brief, that "the President acted contrary to both the express and implied will of Congress.".If we closed this loophole, we could ensure that Social Security continues paying full benefits to every single American who pays in, just as they were promised. … Continued
