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Article Artículo

FactCheck Gets It Wrong on Social Security and the Deficit

FactCheck.org, a project of the Annenburg Public Policy Center, wrongly attacked a number of prominent Democrats for correctly pointing out that Social Security does not contribute to the deficit. The people attacked included New York Senator Charles Schumer, Senate Majority Whip Richard Durbin, and President Obama’s Budget Director Jacob Lew.

This point should be pretty straightforward. Under the law, Social Security is financed by a designated tax, the 12.4 percent payroll that workers pay on their first $107,000 of income each year. The money raised through this tax is used to pay benefits. Any surplus is used to buy U.S. government bonds. All funding for the program comes either from this tax or from the bonds held by the program’s trust fund. (The Social Security system is also is credited with a portion of the income tax paid on Social Security benefits.)

CEPR / February 27, 2011

Article Artículo

Labor Market Policy Research Reports, Feb. 12 – 25, 2011

This is the fifth installment of a new weekly feature at the CEPR Blog. Every Friday, we'll post a list of labor market related policy research reports from progressive research centers around the country. This week, reports from Center for American Progress, Center on Budget and Policy Priorities, Center for Economic and Policy Research, Center for Law and Social Policy, Economic Policy Institute, Political Economic Research Institute, and UCLA Institute for Research on Labor and Employment.

CEPR and Sairah Hussain / February 25, 2011

Article Artículo

Workers

Human Capital and the Public Sector
For over a year now, a debate has been raging over whether public-sector workers are paid too much. In the last few days, spurred by the protests in Wisconsin, Jim Manzi, Kevin Williamson and other conservative newcomers to the debate have been embarras

John Schmitt / February 23, 2011