WASHINGTON – 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.
Without additional job creation, it would hurt young adults looking for work and trying to establish careers. The biggest issue right now is lack of jobs-especially those with decent salaries (enough to support a worker) + benefits...people working until they're69 does not help job growth- If no jobs are created AND people work into their 70's, young adults are really going to be between a rock and hard place, financially speaking- Who does that impact?...the young adults' parents-unless their parents hang them out to dry!
Answer by Sisteract at 9:55 PM on Nov. 18, 2010
Answer by SamKJones at 9:49 PM on Nov. 18, 2010
Answer by itsmesteph11 at 10:02 AM on Nov. 19, 2010
Answer by SweetLuci at 10:24 AM on Nov. 19, 2010
Answer by tasches at 1:06 AM on Nov. 19, 2010