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Friday, November 19, 2010

Another dispatch from the "Figure That Out All By Yourself, Einstein?" file
Posted by Jill | 6:26 AM
I realize that this country has been dumbed-down enough that people like Joe Miller, Sharron Angle, Christine O'Donnell, and Sarah Palin can be considered viable candidates for national office. But have we really sunk so low that we need a news organization to figure this out:
Raising the retirement age for Social Security would disproportionately hurt low-income workers and minorities, and increase disability claims by older people unable to work, government auditors told Congress.

The projected spike in disability claims could harm Social Security's finances because disability benefits typically are higher than early retirement payments, the Government Accountability Office concluded.

The report, obtained by The Associated Press ahead of its scheduled release Friday, provides fodder for those opposed to raising the eligibility age for benefits, as proposed by the leaders of President Barack Obama's deficit commission.

"There's more to consider than simply how much money the program would save by raising the retirement age," said Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging. The report shows an unequal effect on certain groups of people, he said Thursday, and many of them "would have little choice but to turn to the broken disability program."

Under current law, people can start drawing reduced, early retirement benefits from Social Security at age 62. Full benefits are available at 66, a threshold gradually increasing to 67 for people who were born in 1960 or later.

The deficit commission's leaders, Democrat Erskine Bowles and Republican Alan Simpson, last week proposed a gradual increase in the full retirement age, to 69 in about 2075. The early retirement age would go to 64 the same year.

Under their plan, the new thresholds wouldn't be fully phased in until today's 4-year-olds are ready to retire.

AARP criticized the recommendations and House Speaker Nancy Pelosi, D-Calif., called them "unacceptable." Experts, however, warn that Social Security is on a financially unsustainable path that will worsen as people live longer and collect more benefits.

For many workers, reducing early retirement payments or delaying eligibility would provide an incentive to put off retiring, resulting in more earnings and potentially more savings for later in life, according to the watchdog agency's report.

But it "could create a financial hardship for those who cannot continue to work because of poor health or demanding workplace conditions," the report said.

Or those who get kicked out of the workplace in their 40s and 50s and can't get hired anywhere ever again because they're too old, too expensive, too experienced, too expecting to be treated like a human being.

That these recommendations are coming from a committee called by President Obama just shows you how deep his "make nice with everyone" childhood baggage is, and how much it permeates everything he does. Can we please, please, please have a president who isn't crazy or greedy or a religious nutball or insistent on playing out his or her childhood baggage and family dynamics on a national stage?

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Blogger Bustednuckles said...
Dammit, the fuckers are on to my plan.
My body is so damn tore up I have trouble getting out of bed. Neck back, knees, shoulders, my fucking arms go to sleep, etc., etc.
Seventeen more years before I can retire with full benefits thanks to that rotten cock sucker Reagan. Yes, I was born in Sixty.

Like I can find a mechanics job at my age.Like I could actually DO a mechanics job at my age.

No savings, a hundred bucks a month retirement I have earned. I can't even collect that for twelve more years.I am fucked.

Welcome to Wallmart, motherfucker.

Blogger The Raven said...
I think the job has gotten so hard to get that the only people who can win Presidential election are people acting the part.

My take on Obama, btw, is that he's tone-deaf on policy.

Blogger Pangolin said...
This just in..... "Rich People" aren't buying enough cars, houses, boats, airline trips, clothes, restaurant meals and personal services to keep all working age Americans employed despite eight years of massive tax breaks that were supposed to "provide jobs."

It turns out that when you give rich people extra cash they gamble with it.

Who knew?