September 19, 2026

The Future of Social Security: Understanding the 2026 Long Term Projections

Introduction

Social Security’s long term financial outlook has again moved to the forefront with the release of the Congressional Budget Office’s 2026 long term projections and the Social Security Trustees’ latest annual assessment. Although the reports differ in methodology and some of their estimates, they point to the same fundamental challenge: under current law, the gap between Social Security’s scheduled benefits and the revenues available to finance them is projected to persist and generally widen over the decades ahead. This article examines the findings of CBO and the Trustees, supplemented by analysis from J.P. Morgan Asset Management, with particular attention to the projected depletion of trust fund reserves, the distinction between scheduled and payable benefits, the demographic and economic forces contributing to the financing gap, and what these projections actually mean, and do not mean, for the future of Social Security.

CBO’s 2026 Long Term Projections for Social Security

August 5, 2026

A New Proposal Would Increase Social Security COLAs: What Retirees Should Know

by David Badertscher

Introduction

For more than 70 million Americans, Social Security provides an essential source of retirement, disability, and survivor income. One of the program’s most important features is the annual Cost-of-Living Adjustment (COLA), which is intended to help benefits keep pace with inflation.

A recently introduced proposal in Congress the Social Security 2100 Act would make a significant change to the way future COLAs are calculated. According to a recent overview published by FinanceBuzz, the legislation would replace the current inflation index used for Social Security with one that many advocates believe more accurately reflects the spending patterns of older Americans. If enacted, retirees could receive modestly larger annual benefit increases over time.

June 14, 2026

Understanding Budget Reconciliation: How Congress Fast Tracks Major Fiscal Legislation

by David Badertscher

Budget reconciliation is a special congressional procedure created by the Congressional Budget Act of 1974 that allows Congress to consider legislation affecting federal spending, revenues (taxes), and the debt limit under expedited procedures. Most notably, reconciliation bills can pass the Senate with a simple majority vote rather than the 60 votes normally needed to overcome a filibuster. As a result, reconciliation has become one of the most important tools for enacting major fiscal policy changes. The following is an overview of the congressional budget reconciliation process and a discussion of its importance to librarians, researchers, and the general public.

What Is Reconciliation?

Reconciliation is designed to align existing laws with the fiscal goals established in a congressional budget resolution. It can be used to:

April 9, 2026

Tracking Federal Priorities: A Section By Section Overview of President Trump’s FY 2027 Budget

by David Badertscher

The White House has released the Budget of the United States Government for Fiscal Year 2027, offering a comprehensive statement of the administration’s fiscal priorities, policy direction, and economic assumptions. While the President’s budget is not binding law (Congress ultimately determines appropriations) it remains one of the most important primary source documents for understanding the trajectory of federal policy.

This post provides an overview of Issues addressed throughout the FY 2027 budget, followed by a discussion of why it matters across several key audiences.

Full Text of the Budget

March 18, 2026

USPS at a Crossroads: Congress Convenes Urgent Hearing on Its Financial Future

by David Badertscher

The House Subcommittee on Government Operations has now concluded its March 17, 2026 hearing on “Oversight of the United States Postal Service: The Financial Future Under Postmaster General David Steiner,” and the message emerging from Capitol Hill is unmistakable: the United States Postal Service (USPS) faces mounting financial pressure, and time to act may be running short. According to the Subcommittee’s official wrap-up, the Postal Service’s “already-troubled financial situation is getting worse,” prompting renewed concern over whether the agency can remain viable without significant structural change.

A System Under Strain

Testimony before the Subcommittee underscored the scale of the challenge. Postmaster General David Steiner pointed to a dramatic collapse in traditional mail volume, from 213 billion pieces annually at its peak to approximately 109 billion today, representing a loss of over 100 billion pieces of mail and tens of billions in lost revenue. At the same time, while USPS has taken steps to increase revenue and reduce costs, those efforts have not kept pace with rising expenses. As the Government Accountability Office (GAO) emphasized, the current trajectory “is not sustainable,” with service performance declining even as costs continue to grow.