Market MoverFIXING the Economy Via Social Security Reform

Jun 11, 2012 Full story: American Reporter

Market Mover FIXING THE ECONOMY VIA SOCIAL SECURITY REFORM by Mark Scheinbaum American Reporter Correspondent Albuquerque, N.M. April 6, 2009 Perhaps we should focus upon entirely new ideas and models instead of repairing financial structures and infrastructures that have failed the industrialized world miserably in the past decade or two.

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ScottEngageAmeri ca

New York, NY

#1 Jun 11, 2012
The 2012 Trustee's Report details the exhaustion of the Social Security trust fund reserves in 2033, three years earlier than projected last year ( http://1.usa.gov/Kg5KuF ). Yes, it is true that even after the fund is exhausted Social Security will be able to pay 75% of benefits, but how is being able to meet only three quarters of its obligations acceptable?

Clearly, something needs to be done and reform must take place: either by raising the wage cap, by increasing the retirement age to keep pace with longevity, by means-testing and eliminating benefits for very high income seniors, or by some combination of these proposals.

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