Effects Of Social Security Cuts

The President's federal budget deficit commission (being called the "catfood commission" in some circles) is studying ways to reduce the federal deficit. Social Security seems to be a prime candidate for cuts. The Center for Economic and Policy Research, a liberal think tank, has produced a report on the impart of some cuts under consideration. Their analysis "suggests that the cuts most commonly being considered will have a substantial negative impact on low- and middle-income families." The cut that appears to be under the most consideration, raising the normal retirement age to 70 "...is essentially a cut in benefits since the vast majority of workers start collecting reduced benefits not long after they reach the early retirement age (ERA) of 62."

The report does not go into the question of why the vast majority of workers retire as early as possible but I will. A high number of these early retirement claims should really be disability claims. Medicine may be helping people live longer but the length of a person's lifespan has little to do with how long a person can go on working before the inevitable effects of the aging process make it too difficult to go on. Of course, there are many people who can go on working into their 80s but that is not most people. Not everyone works in offices. Not everyone is fortunate enough to enjoy good health as they age. Those who are able to work past 67 should enjoy their good fortune and respect the fact that their good fortune could change in a heartbeat.