PHILADELPHIA INQUIRER: Social Security has become a political ping-pong ball again in Pennsylvania’s U.S. Senate race and in congressional races around the country…
In a recent talk at the Foreign Policy Research Institute in Philadelphia, former U.S. Controller David Walker outlined the basics of a reform plan. First, he suggests gradually raising the retirement age, which is now 66 for full benefits and 62 for partial payments. It is scheduled to rise to 67 in 2022; most reform proposals would raise it to 68 or 70 gradually.
Walker also would reduce promised benefits slightly for younger workers to reflect changes in life expectancy. He would also lift Social Security’s payroll cap, which favors the wealthy…. (more)
