Quote:
Originally Posted by Schneed10
I think Social Security is a big area where benefits will be adjusted one of these days. When it was put into place they made the retirement age 65, people didn't live much longer than that. Now the retirement age is still 65 but a lot of people are living into their 80s. Obviously that's a drain on the system.
With baby boomers retiring the funds will be drawn down and will run out of cash somewhere between 2030 - 2040. They have no choice, they will have to push back the retirement age or cut benefits.
Of course they could modify the investments in the program's portfolio, that would solve a good portion of the problem.
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I think there is an even more simple fix but of course the politician wont go for it. I suggest we take all politician and put them on SSI retirement. All the tax monies that would be allocated over the years to pay the retirement of politicians be allocated to SSI. I think the time they spend as elected officials should be counted towards the 40 quarter requirement just like everyone else but they shouldnt be allowed to "retire" after only 1 term in office and be able to draw there currently salary for the rest of their lives. I also say put them on Medicare at 65.... just like everyone else in the private sector... SSI and Medicare would be two of the most solvent Government programs in our country... as it is politicians dont care about taking money out of it because it doesnt affect them at all... if it did they'd leave it alone.