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Congressional Budget Office
Expected time in retirement at age 65 is more than 40 percent longer than in 1940
Raising the ages at which people can collect Medicare and Social Security would reduce federal spending and increase federal revenues by inducing some people to work longer. However, raising the eligibility ages for those programs also would reduce people’s lifetime Social Security benefits and cause many of the people who would otherwise have enrolled in … Continue reading
U.S. CONGRESSIONAL BUDGET OFFICE | How To Respond to Persistently High Unemployment
The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking … Continue reading
Raising the Normal Retirement Age for Social Security Would Lead to Increase in Inequality
Social Security remains the most important source of income for most Americans in their retirement. Nonetheless, there are many proposals for cutting benefits that get serious consideration, including increasing the normal retirement age. A new report from the Center for Economic and Policy Research examines the impact of raising the Social Security retirement age and … Continue reading
Our prolonged employment gap – Rex Nutting – MarketWatch
Everyone knows that the Great Recession has inflicted tremendous damage to the lives and fortunes of millions of Americans. But what you may not know is that most of the suffering is still to come. We’re not even halfway done with this mess. The economy has been growing for 31 months now, and employment has … Continue reading
Note to Obama: Unemployment is up – Washington Times
The Obama administration keeps reporting supposed good news on the employment front. Americans sense that something is not quite right about the rosy official numbers, and a series of independent reports confirms their skepticism. On Feb. 16, the Congressional Budget Office (CBO) released a report on long-term unemployment showing that the past three years have … Continue reading
5 scariest debt and unemployment charts from the new CBO report « The Enterprise Blog
The Congressional Budget Office has released its updated 10-year budget and economic forecast. Actually, the CBO offers two forecasts. It has a baseline forecast, which assumes current law stays in place. It also has an “alternative” forecast which assumes current tax and spending policy stays in place as is—even if the law says it must … Continue reading
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