Did You Know...

   

WAPO: SOCIAL SECURITY INDEXING REFORM “MERITS SERIOUS CONSIDERATION”

Share
By Michelle Malkin  •  May 31, 2005 05:08 AM

The Washington Post editorial board likes President Bush’s proposal to adjust how Social Security benefits are indexed:

IS PRESIDENT BUSH advocating cruel cuts in Social Security? Consider these calculations by the Urban Institute’s C. Eugene Steuerle: Government-provided retirement benefits for the average couple retiring in 1960 amounted to $195,000. Today, that amount has grown to $710,000 ($439,000 in Social Security and $271,000 in Medicare, which didn’t exist in 1960). For a couple retiring 25 years from now, lifetime benefits are scheduled to exceed $1 million. Mr. Steuerle’s numbers are adjusted for inflation, so this is real growth.

Is this sensible, given other pressing demands? Is it sustainable, given the impending retirement of the baby boomers? The answer to both questions is no, which is why Mr. Bush’s proposal to adjust the way that increases in Social Security benefits are calculated — a method known as progressive indexing — merits serious consideration.

Bush unveiled the propsosal more than a month ago. The WaPo’s comments are welcome, albeit belated.

blog comments powered by Disqus
~ For the latest breaking news, be sure to join Michelle's Email List:
Posted in: Media

Nothing on Terry Bean

December 3, 2014 07:27 AM by Michelle Malkin

Paper that brought down Richard Nixon reduced to fact-checking an SNL skit about Obama

November 24, 2014 05:31 AM by Doug Powers

snl

**Executive order pictured not actual size

Big Truthy is watching (some of) you…and me

November 12, 2014 12:53 AM by Michelle Malkin


Categories: Fairness Doctrine, Feature Story, Politics, Rush Limbaugh, Twitter

Follow me on Twitter Follow me on Facebook