Social Security cannot be saved, period, because it is a pyramid scheme. The only advantage it has over a typical one is that the government forces people to pay into it instead of tricking people into paying in. Demographics have been making the pyramid increasingly top-heavy for years, and now it's on the verge of collapse.
Boosting the retirement age is absolutely necessary to keep it from just exploding, but all that does is kick the can further down the road. The program needs to be phased out - keep slowly raising the retirement age (say, bumping it up 1 year every 2-3 years that passes), while simultaneously decreasing the amount that people pay in (so younger people don't get entirely screwed). Of course, as the article says, the Usual Suspects (Bernie and Pocahontas) just say "keep raising taxes!"
Social Security cannot be saved, period, because it is a pyramid scheme. The only advantage it has over a typical one is that the government forces people to pay into it instead of tricking people into paying in. Demographics have been making the pyramid increasingly top-heavy for years, and now it's on the verge of collapse.
Boosting the retirement age is absolutely necessary to keep it from just exploding, but all that does is kick the can further down the road. The program needs to be phased out - keep slowly raising the retirement age (say, bumping it up 1 year every 2-3 years that passes), while simultaneously decreasing the amount that people pay in (so younger people don't get entirely screwed). Of course, as the article says, the Usual Suspects (Bernie and Pocahontas) just say "keep raising taxes!"