Social Security

No Social Security Paper Checks Soon

If you are on Social Security or has a parent on Social Security play close attention: come March 1 the U.S. Treasury Department will no longer issue paper checks.  The federal government’s “Go Direct” campaign is an effort to save taxpayers $1 billion over the next 10 years. With only two months to go, the Treasury department continues to mail more than 5 million paper checks each month to beneficiaries.

The “Go Direct” campaign began in December 2010 targeting recipients of payments from federal benefits programs — including Social Security, Supplemental Security Income disability, Veterans Affairs and government pension plans.  Roughly 93% of payments are now being made electronically, but with 5 million checks still being mailed  mailed each month the government is spending an additional $4.6 million in monthly costs since each mailed check costs 92 cents more than a direct deposit transfer. […]

Social Security Statements Move Online

Social Security Statements Move Online

As of 2011, your annual Social Security statements are no longer being mailed to your home. Did you get that memo? I didn’t and neither did you since the Social Security Administration didn’t send one. What they have done instead was introduce online access to your statements beginning the week of May 29, a move that could save the government more than $70 million each year. According to a Reuters article, more than 130,000 individuals have signed up as of May 10.
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Deficit Commission Gives It To You Straight

Deficit Commission Gives It To You Straight

Voters who demanded Washington rein in the nation’s spiraling debt are getting a message from President Barack Obama and leaders of his bipartisan deficit commission: It’ll hurt.

I’ll give it to you as a compilation of information that I pulled from around the web. Remember, you voted for it, so don’t choke on your lunch. My comments are not italicized.

A proposal released Wednesday by the bipartisan leaders of the commission suggested cuts to Social Security benefits, deep reductions in federal spending and higher taxes for millions of Americans to stem the flood of red ink that they say threatens the nation’s very future. The popular child tax credit and mortgage interest deduction would be eliminated. I would never qualify for this credit because I earn too much, but those living in poverty with kids are screwed. A 15 cent-a-gallon tax would also be imposed on gasoline.
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