Biden Says He'll Make the Wealthy Pay More To Fix Social Security. Here's Why That Won't Work.
Raising the payroll tax cap could generate up to $1 trillion over 10 years, but Social Security faces a $2.8 trillion deficit.
Entitlements
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
DeSantis, Haley Highlight the Republican Party's Deeply Unserious Approach to Social Security
A decade ago, DeSantis was supporting real efforts at reforming Social Security. Now, he's refusing to even acknowledge the problem.
On Economic Issues, the Populist Right and Left Share a Lot of Common Ground
That's bad news for Americans.
All I Want for Christmas Is for Congress To Exercise Fiscal Restraint
Lawmakers can take small steps that are uncontroversial and bipartisan to jumpstart the fiscal stability process.
Congress Is Trying To Avoid Taking Responsibility for the Debt Crisis It Created
A fiscal commission might be a good idea, but it's also the ultimate expression of Congress' irresponsibility.
Here's One Way To Move Toward Responsible Government and Sane Fiscal Policy
The Copenhagen Consensus has long championed a cost-benefit approach for addressing the world's most critical environmental problems.
Are Republicans Finally Getting Serious About Social Security?
This week's debate was the first signal that the party's next presidential nominee might actually understand the entitlement crisis.
The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job
In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.
87% of Americans Want Politicians To Do Something Before Social Security Runs Out of Money
Entitlement reform has long been considered a third rail in American politics, but that perspective might be changing.
Democrats Say They're Fighting Inequality. But Many of Their Policies Favor the Rich.
Over the last several years, they have worked nonstop to ease the tax burden of their high-income constituents.
The Real Scandal in Washington Is the Government's Reckless Spending
Those sounding the loudest alarms about possible shutdowns are largely silent when Congress ignores its own budgetary rules. All that seems to matter is that government is metaphorically funded.
Welfare Cuts Are Inevitable Because Congress Won't Touch Social Security
Until Congress is willing to acknowledge that it makes no sense to send monthly checks to wealthy seniors, everything else will be on the chopping block.
How the Federal Budget Deficit Doubled in a Single Year
It's not the first time that has happened, but there are key differences about what happened this year.
Congress Is Still Using 'Emergency Spending' on Non-Emergencies
Since Congress won't cut spending, an independent commission may be the only way to rein in the debt.
The U.S. Credit Rating Just Dropped. It's Time for Radical Budget Reform.
The lack of oversight and the general absence of a long-term vision is creating inefficiency, waste, and red ink as far as the eye can see.
This Election Season, Beware of These False Promises
Many politicians offer a simplified view of the world—one in which government interventions are all benefits and no costs. That couldn't be further from the truth.
The Next President Needs To Cut Spending
At a minimum, the national debt should be smaller than the size of the economy. A committed president just might be able to deliver.
CBO Projects Huge Deficits, $116 Trillion in New Borrowing Over the Next 30 Years
A new Congressional Budget Office report warns of "significant economic and financial consequences" caused by the federal government's reckless borrowing.
The Debt Ceiling Deal Does Not Go Nearly Far Enough
Projections of huge savings are making the rounds. Nothing could be further from the truth.
Social Security and Medicare Are Ticking Time Bombs
Even taking all the money from every billionaire wouldn't cover our coming bankruptcy.
Banging Our Heads on the Debt Ceiling
Plus: A listener question cross-examines prior Reason Roundtable discussions surrounding immigration, economic growth, and birthrates.
Debt Ceiling Deal Curtails GOP-Backed Budget Cuts, Spending Caps
The deal will freeze non-military discretionary spending this year and allow a 1 percent increase in 2024.
Failing to Reform Social Security Means Mandatory Cuts
Social Security will become insolvent in the early 2030s if Congress does nothing.
Vivek Ramaswamy Is Wrong About the National Debt
We can't grow our way out of its ruinous economic impact. The only way forward is to cut spending.
Don't Believe the Media Fearmongering About Spending Cuts
In 2019, discretionary spending was $1.338 trillion—or some $320 billion less than what Republicans want that side of the budget to be.
Republicans' and Democrats' Refusal To Reform Social Security and Medicare Is Political Malpractice
In 10 years, the programs' funds will be insolvent. Over the next 30 years, they will run a $116 trillion shortfall.
Social Security Will Be Insolvent by 2033
New data from the program's trustees show that insolvency will hit a year sooner than previously expected, giving policy makers just a decade before automatic benefit cuts occur.
To Balance the Budget, Republicans Must Cut Military Spending, Trim Entitlements, or Raise Taxes
If Republicans refuse to gore their three sacred cows, a new CBO report shows that balancing the budget is literally impossible.
Yes, There Are Libertarians During Bank Runs
Plus: The editors recommend the best books for sparking interest in free market principles.
Biden's Budget Will Raise Taxes Without Addressing the Federal Government's Spending Problem
Biden is set to propose a new tax on unrealized investment gains and to quadruple a recently imposed tax on stock buybacks.
Joe Manchin Is Once Again Telling Republicans and Democrats What They Don't Want To Hear
But it's exactly what they need to start talking about.
Paul Krugman Says Social Security Is Sustainable. It's Really Not.
Krugman sees benefit cuts as "a choice" but believes that implementing a massive tax increase on American employers and workers would be "of course" no big deal.
The Answer to Population Decline Is More Immigration
Politicians' go-to fixes like child tax credits and federal paid leave are known for creating disincentives to work without much impact on fertility.
Social Security and Medicare Cuts Are Coming, Whether Politicians Do It or Not
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
U.S. Will Add $18.8 Trillion in New Debt by 2033
Plus: Age verification for social media, a bill to ban cannabis "gatherings," and more...
3 Reasons To Abolish Social Security Now!
The old-age entitlement is unsustainable, unfair, and unnecessary. Replace it with something that helps the needy of any age.
Under No Circumstances Did Joe Biden Save Social Security
Plus: a listener question on prohibition and a lightning round on the editors' favorite Super Bowl moments
The Fight Over the Debt Ceiling Is Just Beginning
Legislators will increasingly argue over how to spend a diminishing discretionary budget while overall spending simultaneously explodes.
The State of Our Union Sucks
The bipartisan (if shouty!) embrace of big-government nationalism ensures our populist moment won't end any time soon.
Mike Pompeo Says He 'Grew Up Libertarian'
These days, he may run for president. His politics have changed.
Social Security Is on the Brink of Collapse. The GOP Won't Touch It.
In 1950, there were more than 16 workers for every beneficiary. In 2035, that ratio will be only 2.3 workers per retiree.
Donald Trump and J.D. Vance Say No Cuts for Social Security. That's Impossible.
Social Security benefits will be cut automatically in less than a decade unless Congress shores up the program before it hits insolvency. Ignoring that is not a solution.
The GOP's Current Plan To Cut Spending Is a Political Failure
Social Security, Medicare, and Medicaid are still the chief drivers of our future debt. But Republicans aren't touching them.
Biden and Journalists Agree: Republicans Would Deliberately 'Crash' the Economy
But…does that make any sense?
The Student Loan Forgiveness Fiasco
Plus: Spider study sheds light on how misinformation spreads, Airbnb regulation ruled unconstitutional, and more...