Utah's Republican Senate candidates have outlined a vision for reforming Social Security that includes raising retirement ages, private accounts and, in Mike Lee's case, taking the retirement safety net away from the federal government and letting states run it.
"Somewhere down the road we need to ask: Is the federal government the right government to be administering this?" Lee asked. "You don't find a retirement system in [the Constitution]. That, with the 10th Amendment, says it's a program best administered by the states."
Lee's proposal would mark a historic shift in the 75-year-old program, which the U.S. Supreme Court ruled in three cases in 1937 is a constitutional exercise of federal power. ...
For his part, Lee also proposed significant increases in the retirement age for younger workers, suggesting that for workers 20 years from retirement, the age at which they would qualify for benefits should be raised by one year every other year.
That means a worker who is 47 years old now -- 20 years from full retirement under the current system -- would not be able to retire until he or she is 77 years old, adding an extra 10 years to their expected period of employment.