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Starlus  Rose		7/14/2010 4:07:01 PM Is Raising the Retirement Age to 70 to trim the Budget the Solution? Politicians often talk in generalities about cutting the deficit, but discussing specifics about how Congress may curb the growth of the biggest and most popular programs such as Social Security and defense is controversial and usually taboo in an election year. A deficit commission appointed by President Obama is due to present its findings on how to reform major programs like Social Security and defense in November, and it is widely expected to endorse measures like raising the retirement age and others mentioned by the leaders. House Majority Leader Steny H. Hoyer, Maryland Democrat, and House Minority Leader John A. Boehner, Ohio Republican speaking in unrelated forums, both leaders stressed that with people living longer and enjoying better health in their senior years, the nation simply can't afford any longer to be paying out benefits for as long as 30 years after retirement. 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. What are your thoughts? 100% agree with this post 0% disagree with this post 0 people have marked this as spam You must be logged in to rate this posting Please Wait...

Cornelius   -		7/15/2010 4:43:37 PM People are living longer. Less employees=Less money going to the fund. S.S is a problem but something much bigger is where will income as whole come from when people stop working if they ever can. How many people who don't have a pension know what their retirement income will be? That's if retirement will be an option. 0% agree with this post 0% disagree with this post 0 people have marked this as spam You must be logged in to rate this posting Please Wait...