Skip to comments.Top Republican: Raise Social Security's retirement age to 70
Posted on 06/29/2010 8:23:18 AM PDT by Sub-Driver
Top Republican: Raise Social Security's retirement age to 70 By Michael O'Brien - 06/29/10 10:50 AM ET
A Republican-held Congress might look to raise the retirement age to 70, House Minority Leader John Boehner (R-Ohio) suggested Monday.
Boehner, the top Republican lawmaker in the House, said that raising the retirement age by five year, indexing benefits to the rate of inflation and means-testing benefits would make the massive entitlement program more solvent.
"We're all living a lot longer than anyone ever expected," Boehner said in a meeting with the editors of the Pittsburgh Tribune-Review. "And I think that raising the retirement age -- going out 20 years, so you're not affecting anyone close to retirement -- and eventually getting the retirement age to 70 is a step that needs to be taken."
The GOP leader said that Social Security was the most important entitlement to reform, though he also pledged that Republicans would bring legislation to the floor to repeal and replace the healthcare reforms passed earlier this year if the GOP wins back control of the House this fall.
But Boehner also floated several other reforms to Social Security, paired with raising the retirement age, to make it more solvent. Boehner said that benefits should be tied to increases in the Consumer Price Index (CPI) instead of wage inflation, and he suggested reducing or eliminating benefits to Americans with a "substantial non-Social Security income" while retired.
"We just need to be honest with people," he said. "I'm not suggesting it's going to be easy, but I think if we did those three things, you'd pretty well solve the problem."
Republican have made cutting spending and reforming entitlement programs a key part of their 2010 campaign message.
Watch the entirety of Boehner's explanation below:
I’m all for it. we’re living longer and healthier. adjust to the times.
3 generations ago, “retirement” was a rare luxury
we have forgotten and been lulled
Which is why this problem will never be solved leading to Social Security's unavoidable insolvency, which in my estimation is EXACTLY what the Dems want. They want to replace Social Security with a more comprehensive cradle-to-grave social program, and they'll do it out of the chaos of a failed Social Security.
Republicans need to clear out 90% of the Social Security “disability” payments. It’s going to the same folks who used to get welfare - but now don’t have to keep having kids to stay on for life. Also, the moochers undermine the program for those who really are disabled.
End it gradually. Let those who are 20+ years out get out of this ponzi scheme.
If I am able to do so, I’m going to take mine at 62. And run away with the money. :)
Boehner should be cheered for having the guts to recommend this.
Instead he and all Republicans will be vilified.
And what are those laid off over 60 workers who have been contributing all their lives (nay, FORCED TO CONTRIBUTE) going to do for the meantime ?
Try finding a job at that age after you have been laid off (often because of your age).
Why not try something else — LIKE STOPPING THE RAID OF SOCIAL SECURITY TO PAY FOR CURRENT BUDGET EXPENSES.
We’ve been talking about the lockbox since Al Gore made the term a comedy signature at SNL, but we have not even implemented it.
Means-testing would be a brutal betrayal of the tax-paying middle class. Forget it. Tweaking the eligibility schedule and regular increases makes sense.
I actually have no problem with this...HOWEVER...the fact that the Social Security system has been over-promised for years presents a problem....plus the fact that there is NO LOCK BOX for the funds...they’ve used them! er...they’ve STOLEN the funds!
When SS was first instituted the average life expactancy was 62 (women) and 56 (men) [I may be off a couple 0of years- I am going from my mory- but the point is] Social Security kicked in at age 65 - so no one was expected to collect on it, it was a MONEY GRAB
Then when people started living longer, it became a VOTING BLOCK
I feel no sympathy for oldsters who voted themselves their grand-childrens money
Hey! Why dont we just LOAN OURSELVES $10 trillion dollars- payable in the year 3000 (let THEM worry about it)
If they means test it, Sosha Security will become just another welfare program.
That's what this is all about.
Boehner has the rare and exceptional gift of saying the exact wrong thing at the exact wrong time based upon the exact wrong plan.
at the time social security was implemented the average life expediency was 65 to raise the age only five years will not be enough, we need the defined contribution model with individual oversight,yes good ‘ol personal responsibility!
Yeah there are those who hate that stuff!
I wonder what fraction of SS outlays is for people UNDER the retirement age. SSI, surviving spouses, etc.