Bi-partisan pain: Raise social security retirement age to 70?

Thumbnail image for  Steny H. Hoyer .jpg

Steny H. Hoyer

Such bi-partisanship is exceedingly rare, but it has to happen. Two House leaders, Majority Leader Steny H. Hoyer, Maryland Democrat, and Minority Leader John A. Boehner, Ohio Republican, have indicated that avoiding a social security financial meltdown will require some painful cuts in benefits.

High on the list is raising the retirement age for payments, which already has gone to 67 from the traditional 65. 

Reported the Washington Times


Besides raising the retirement age for full Social Security benefits to 70 for people now 50 or younger, Mr. Boehner suggested curbing benefit growth by tying cost-of-living increases to the consumer price index rather than growth in wages, and providing benefits only to those who need them.

Mr. Hoyer also said it was time to be honest with the public that the sheer size of the deficits and public debt means any serious effort to cut them back to manageable levels will require cuts and reforms in all major programs -- including defense and Social Security -- as well as tax increases.

If the media decide to cover this rare news completely, get ready for some angry reaction. Not from us who already have reached retirement age (but still are working), but from those in what might be called the donut hole--those who are about to turn 67 and are counting on retiring before 70.

Comments

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  • Since I undoubtedly would be put into this position, I'm not in favor of it. However, it is expected, in that various commissions have been talking about it since the 80s. One just figured in the 80s that the 2010s would not come, or at least not for a long time.

    Unlike what I said about the media covering the "secret primary" amendatory veto, I doubt that the national media will let this one slide, even if it is "bipartisan." I also doubt that the Republicans will join this "bipartisan effort" until some privatization proposal is at least put out to the media.

    BTW, just because a Dem and a Rep have indicated something doesn't mean that there will be a "bipartisan bill." The financial reform bill was supposedly a bipartisan effort until Reid called for cloture, said there was no more time for bipartisanship, and lost. As indicated at the end of the last paragraph, one would have to see what bill arises, if any.

  • This scam is being perpetrated on Americans to delay full Social Security benefits to age 70 by proponents who tell us they want to "save" Social Security. Unfortunately, most of them really want to "end" Social Security.

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