Friday, January 30, 2009

Saving Social Security

Obama has tons of political capital right now AND the country needs to save money, so why not tackle Social Security with the increase in age longevity in mind. Since SS was introduced more than 60 years ago no change to the starting age has occurred, which makes absolutely no sense since the average person lives 10 years longer than they did then.

1) As of February 1, 2009, if you are 60 or over your Social Security benefits remain the same (start at age 65, etc.)

2) As of February 1, 2009, if you are 50-59, your benefits will begin at age 68.

3) As of February 1, 2009, if you are 40-49, your benefits will begin at age 71.

4) As of February 1, 2009 if you are 30-39, your benefits will begin at age 74.

5) As of February 1, 2009 if you are 20-29, your benefits will begin at age 77.

Once this is done, the same thing can be done for all pensions at Federal and State levels. Run the numbers and you'll see this will effectively and signicantly reduce national and state debt.

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