Senate report: Small changes will get Social Security back on track
Posted on 17 May 2010
By Mark Miller
Permanent URL of this article: http://retirementrevised.com/money/senate-report-small-changes-will-get-social-security-back-on-track
A new congressional report confirms what I’ve been saying about the Social Security “problem”–namely that that the repairs needed to assure the program’s long-range solvency are modest.
The Associated Press said today that the Senate Special Committee on Aging will release a report this week showing that small “tweaks” are all that is needed to bolster Social Security’s finances.
“Some of the options are politically dangerous,” the AP reports, “such as increasing payroll taxes or reducing annual cost-of-living increases for Social Security recipients. Others, such as gradually raising the age when retirees qualify for full benefits, wouldn’t be felt for years but would affect millions.
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