Search results
Results from the WOW.Com Content Network
Social Security recipients could get an additional $2,400 a year in benefits if a new bill recently introduced to Congress wins approval -- something seniors would no doubt welcome as surging ...
The Fiscal Responsibility Act of 2023, passed in June 2023, resolved that year's debt-ceiling crisis and set spending caps for FY2024 and FY2025. The act called for $895 billion in defense spending and $711 billion in non-defense discretionary spending for fiscal year 2025, representing a 1% increase over fiscal year 2024. [10]
With inflation improving, the nonpartisan Senior Citizens League (TSCL) projects the Social Security COLA for 2025 at 2.5% as of September, revised from its higher prediction of 2.57% in August.
Because taxable earnings are a fraction of GDP, sometimes the system's finances are put into context by using GDP. Social Security's cost are 5.2 percent of U.S. GDP as of 2023. Program costs will rise to 6.3 percent of GDP by 2076, and then decline to 6.0 percent of GDP by 2097. [5]
The United States federal budget for fiscal year 2024 ran from October 1, 2023, to September 30, 2024. From October 1, 2023, to March 23, 2024, the federal government operated under continuing resolutions (CR) that extended 2023 budget spending levels as legislators were debating the specific provisions of the 2024 budget.
As of the end of the 2023 fiscal year, the SSA still had more than $23 million in overpayments it had yet to recoup. Read more: Why people who work with a financial advisor retire with an extra $1 ...
That same year, NCSC started its first political action committee. [13] In 1996, NCSC began the process of spinning off its government-funded, senior-employment and housing programs. It established a new division called the National Senior Citizens Education and Research Center (NSCERC), which continued to administer the SCSEP funds.
The 60 Plus American Association of Senior Citizens is an American conservative advocacy group founded in 1992 and based in Alexandria, Virginia. Its stated purpose is to promote solutions to seniors' issues that are grounded in free markets , less government , and less taxes. [ 1 ]