The Question:
In order to make Social Security and Medicare solvent, tax increases, means testing, and reduced benefits are being considered. What do you think?
62% - If it will make the social programs solvent, make the changes
38% - Find another way to fix these programs
The Commentary:
We asked this question: In order to make Social Security and Medicare solvent, tax increases, means testing, and reduced benefits are being considered. What do you think?
A little more than six of ten or our respondents said, “If it will make the social programs solvent, make the changes.” The rest, 38%, went the other way, with this answer, “Find another way to fix these programs.”
As I’ve been saying in response how America is going to get its financial house in order, there will be pain. The question is do we want to experience that pain while we have some control over the solution, or wait and experience it when another entity – a holder of our debt, global competitor, or both – make the decision for us.
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So, what steps have to be taken to save Social Security and Medicare? Recently on my show, I talked with Bob Jennings, President of Lean Management Group and co-author of The Adversity Paradox, about reforming retirement entitlements, raising the eligibility age, means testing, and increased payments from participants.
