John F. Cogan

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Articles

Opinion | Got Debt? Try Some Fiscal Federalism

Nov 26, 2024 | wsj.com | John F. Cogan

Excessive spending has been a way of life for lawmakers in Washington for more than half a century. Since 1969 federal outlays have exceeded revenue every year, except briefly during the high-tech bubble of the late 1990s. Elon Musk and Vivek Ramaswamy’s Department of Government Efficiency will attempt to put an end to this fiscal profligacy. Both men will soon discover that the root cause of this problem lies with the federal government’s abandonment of federalism in fiscal matters.
Opinion | Got Debt? Try Some Fiscal Federalism

Nov 26, 2024 | wsj.com | John F. Cogan

WSJ Opinion: Elon Musk Takes On Uncle SamYour browser does not support HTML5 video. 0:00Paused0:00 / 5:30WSJ Opinion: Elon Musk Takes On Uncle SamPlay video: WSJ Opinion: Elon Musk Takes On Uncle SamExcessive spending has been a way of life for lawmakers in Washington for more than half a century. Since 1969 federal outlays have exceeded revenue every year, except briefly during the high-tech bubble of the late 1990s.
The Budgetary Impact of the Abandonment of Federalism

Nov 24, 2024 | hoover.org | John F. Cogan

MyHoover delivers a personalized experience at Hoover.org. In a few easy steps, create an account and receive the most recent analysis from Hoover fellows tailored to your specific policy interests. Watch this video for an overview of MyHoover. Create Account
Opinion | Older Americans Are Better Off Than Ever

Nov 9, 2023 | wsj.com | John F. Cogan |Daniel L. Heil

Wednesday’s Republican presidential debate confirmed that the issue of Social Security reform isn’t going away. But missing from the debate is some important context: The good life for senior citizens has never been better. Newly released Federal Reserve data reveal that seniors’ financial well-being is the best in U.S. history. Private markets and individual initiative, not Social Security, have been the driving forces behind seniors’ high income and wealth.
Four Decades of Senior Income Growth: A 2023 Update

Nov 8, 2023 | hoover.org | John F. Cogan |Daniel L. Heil

MyHoover delivers a personalized experience at Hoover.org. In a few easy steps, create an account and receive the most recent analysis from Hoover fellows tailored to your specific policy interests. Watch this video for an overview of MyHoover. Create Account
The Day the Social Security Funding Crisis Became Inevitable

Oct 17, 2023 | aei.org | Andrew Biggs |John F. Cogan |Daniel L. Heil

December 20, 1977. If not a date that will live in infamy, it is the date on which a Social Security funding crisis was made inevitable. Had Congress acted differently on that day, by adopting the unanimous recommendations of a congressionally appointed expert panel, Social Security’s $22 trillion funding shortfall would not exist, and retirees would not face a 20 percent benefit cut when Social Security’s trust fund runs dry in 2034.
The day the Social Security funding crisis became inevitable

Oct 17, 2023 | thehill.com | Andrew Biggs |John F. Cogan |Daniel L. Heil

December 20, 1977. If not a date that will live in infamy, it is the date on which a Social Security funding crisis was made inevitable. Had Congress acted differently on that day, by adopting the unanimous recommendations of a congressionally appointed expert panel, Social Security’s $22 trillion funding shortfall would not exist, and retirees would not face a 20 percent benefit cut when Social Security’s trust fund runs dry in 2034.
Social Security Wage Indexing Revisited

Oct 9, 2023 | hoover.org | John F. Cogan |Daniel L. Heil

Abstract: This paper examines the long-term impact of Congress’ 1977 decision to wage index initial Social Security benefits. We use the Survey of Consumer Finances to address the question of how senior household incomes and the Social Security Trust Fund’s financial status would have fared had Congress chosen different methods of indexing initial Social Security benefits. We perform a retrospective analysis of two alternative price-indexing methods.