Katie Couric entertains Catfood Commission Co-chairs who spread panic on SocSec - video

[Bozita]

The CBS Evening News also interviewed Rep Paul Ryan (R-WI).

The story ran midway through the newscast and is available for online viewing at:
http://www.cbsnews.com/stories/2010/11/23/eveningnews/main7083933.shtml?tag=contentBody;featuredPost-PE


NEW YORK, Nov. 23, 2010
Baby Boom to Bust: Time to Raise Retirement Age?
"Senior Moment:" Government Faces Painful Reality as the Number of Social Security Recipients is Projected to Double by 2035
Font size Print E-mail Share 4 Comments By Anthony Mason


INTERACTIVE
Social Security
How it works, the shortfall and Bush's proposal, and facts on recipients.
STORIES
Bowles, Simpson Unapologetic Over Deficit Report
The Fight Over Social Security's Future Is On


(CBS) The oldest of the Baby Boomers turn 65 next year - and, for many, that means retirement. As more boomers pack it in, the number of Americans collecting Social Security retirement benefits is projected to nearly double over the next 25 years to more than 76 million.

The system won't be able to handle the strain without an overhaul. CBS News senior business correspondent Anthony Mason continues a series of reports by CBS News and USA TODAY called "Senior Moment," exploring the aging of an iconic generation and the impact on the nation.


Social Security pays out more than $700 billion a year. But the system is headed for a crisis.

"Americans are living longer, but they're retiring earlier and saving less," said Andrew Biggs of the American Enterprise Institute. "Something in that equation has to give."

With 70 million baby boomers headed towards retirement, the government is confronting a painful reality.

"We as a country have made promises we can't keep," said Erskine Bowles. Bowles and Alan Simpson, co-chairs of the president's bipartisan deficit commission, have proposed gradually raising the retirement age from 66 to 69. That proposal has ignited a debate on Capitol Hill.

more...

[SpiralHawk]

1. More BS from the CatFoodies & RepubliCorporate Media

Go suck a colostomy bag, you hosers.

[rocktivity]

2. I don't suppose raising or eliminating the Soc Sec salary cap even came up

:eyes:
rocktivity

[Bozita]

3. Not a word!