Current law makes automatic cost of living adjustments for many entitlement programs based on the Consumer Price Index (CPI). The Bureau of Labor Statistics (BLS)
Social Security benefits are currently based on a beneficiary’s lifetime earnings and are indexed for changes in wages in the entire economy, which tend to
Social Security’s current benefit formula is progressive, where beneficiaries with lower lifetime earnings receive higher benefits compared to their earnings than those with higher life-time
When Social Security was enacted in the 1930s, life expectancy at birth was 62 years and the retirement age was 65. Over the program’s history,
The Medicare program currently operates as a fee-for-service program, which contributes to the program’s growth at an unsustainable rate. We propose that the program is
In 1983, Congress reformed Social Security to gradually increase the normal retirement age to 67. We propose extending that reform to Medicare as well, whose
Medicare is an extraordinarily complex program, consisting of four parts that provide payments to health care providers to reimburse them for health care services or
Medicaid is a joint Federal-state health care program that pays for the health care services for primarily low-income people. In 2023, the Federal spending for
1. Tort Reform In order to protect against medical malpractice lawsuits, health care providers purchase malpractice insurance which has the effect of increasing the cost
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