Solving Unemployment While Destroying Social Security!

Now we have probably all read articles about saving Social Security by raising the minimum retirement age again and raising the age where one earns their maximum benefit. Of course it could simply be saved by eliminating the salary cap…but I think I discussed that elsewhere on Blogging Blue.

But what if we lowered the early retirement age to 60 instead of 62 and the maximum benefit age as well…and lowered the medicare age to 62 or 63. If that would convince a large number of baby boomers to take earlier retirement…we could open up a lot of jobs to the 20 somethings and 30 somethings that are unemployed or underemployed.


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8 thoughts on “Solving Unemployment While Destroying Social Security!

  1. This is why social and targeted media are weak sisters compared to mass media blitzes. Mass media changes attitudes. e.g.: Note our friend, Ed, is here considering cuts to social security a fait accompli. That’s the power of mass media. It builds consensus. Even media personnel adopt a kind of “group think,” afraid to be left out of the loup. As the mass media maligned 99%, we must constantly be reminding one another of our resolve, and the mass media of their obligation as the Fourth Estate of this democracy. Some really clever and poignant content, like a Pete Seeger song or a Jon Stewart monologue or salient YouTube video helps but nothing says influence like a well produced thousand dollar a second Mass Media advertisment.

    1. Considering cuts to Social Security? Where did you see that? I am suggesting that we LOWER the age to start collecting Social Security at the current rates…but I am acknowledging that doing so would put SS at further risk financially. All current guessitmates on revenues and pay outs are based on current age attainment levels. If lowered we have our cash flow issue much sooner.

      1. Sorry, Ed. I’ve never considered that as a possibility. And now that I think about it, don’t consider it as good as increasing the income level for collecting Social Security. Your consideration is going after the poorer and less powerful in favor of the well off again. Inflation should dictate that we do raise the income level for collection Social Security payments.

        1. Sigh…what I am suggesting is we lower the retirement ages to encourage more 60 somethings to retire so companies can hire unemployed 20 somethings…it’s pretty straight forward.

          1. I suppose I get obtuse about things I consider no-starters. 1. As an over 60 I have too many friends who are way too active to retire, and are contributing too much to their industries that some 20 something could never match. In addition earlier retirement would put additional strain on the insurance funds. With better health and longer lives, most folks are talking about increasing the retirement age. This is the tact that would make for a better run and more profitable economy…if we really care about that. Right now we are simply making bets and mopping up the debris.

        2. Cat,

          Obama’s method for cutting Social Security and veterans benefits is “chaining the CPI.”

          That will prevent them from rising with inflation.

          I’m sure Sen. Ron Johnson is on board.

          I’ve been very disappointed in Sen. Baldwin, because afaik, she has not strenuously advocated against “chaining the CPI.”

          Rep. Mark Pocan was late, but he finally signed a letter explicitly opposing “chaining the CPI.”

          Rep. Gwen Moore claims she’s against it, but she almost always votes the way Obama tells her to.

          I hope you’ve made all the members of the Wisconsin Congressional delegation aware of your position, which I fully support.

          1. John, this column will be rather skinny. So I’ll make it brief. Obama is still struggling to find some compromise that Boehner will in fact agree to and CPI seems to him the least costly–increased limit on SS payment being a 1% sacrilege. If we can get the President over the ACA hump, he’ll back off the chained CPI non sense.

  2. Ed, thanks.

    IMHO, the link to the slide show below is really worth a look.

    These folks (Modern Monetary Theory) agree with you that Social Security should not be cut. They also argue that federal taxes (especially the payroll tax) should be “on holiday” until we recover and have full employment.

    The economy has three sectors: Domestic public, Domestic private, and foreign.

    They can’t all be in surplus. They can’t all be in deficit.

    Note, when the domestic public sector runs a surplus, it’s taking wealth away from the other two.

    I think the “Dallas Address” link below is more accessible and provides more detail w/r/t policy decisions the federal government has to make.

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