NYT with a nice data story about the problems with social security calculations. Four solutions offered to the problem:
1-raise retirement age
2-increase payroll tax
3-limit cola adjustments
Also makes case for improved forecasting methodologies, ie more statistical and data-driven (empirical).
One solution not mentioned is to make benefits more progressive. My dad who is 79 doesn’t really need benefits, but he gets them anyways…he has wondered how much we as a country could save if he and others like him have up their benefits.