Raise Age for Full Social Security Benefits????

The Social Security system is expected to have cash flow problems beginning in 2017, and the Social Security trust fund will be exhausted by 2041 at the current rate.

The American Academy of Acutaries during an August 4th, 2008 meeting with federal lawmakers, proposed three options for increasing the retirement age, as reported by Sara Hansard of Investment News:

1. "The age at which full benefits could be received would be raised to 67 for all workers born in 1949 or later, which would reduce the expected deficit by 10 percent.


2. Increase the full-benefits age to 67 and increase it by a month every two years until it hit 70, thus eliminating 35 percent of the expected long-range deficit.


3. Increase the schedule for full benefits by two months every year until age 70, eliminating half of the long-range deficit, the academy said."

As I see it, why do we need to have this organization of number crunching nerds, tell us that we need to increase the "age of attainment" or "retirement age" seems moronic.

Most of use realize that since the implementation of the Social Security entitlement, life expectancy at age 65 has increased by almost 4.5 years for men and over 5.5 years for women.

I am further interested that the number nerds didn't also propose an increase in the social security wage base from $102,000 (2008) to no upper cap. Think about the potential increase influx of money from those wage earners producing above the $102,000 per year.

It is amazing to me that for the past 30 years this has been an issue of concern (since Gerald Ford was President !!!!) Holy Cow !! This just shows me how freakin' inept our elected officials really are. They have continued to add more and more people to the government teet and have failed to fix the obvious long-term issue with the program.

Honestly, in 2018 or 2019 I believe we will still be struggling with how to pay for Social Security, because no one wants to take accountability for the real issue. There is no doubt in my mind that unless someone is willing to make some tough decisions and piss some people off, this situation will not be corrected.

Think about this, in 1937 the first payroll taxes were collected by the government, the first monthly payment from the "social program" was issued in 1940 and in about 80 years we have depleted the money allegedly set aside for retirement by stealing from it to pay for other governmental pork programs.

For what it's worth.....Politically Incorrect HR