GAO Report: Raising Retirement Age will Hurt the Poor

Friday, November 19, 2010

President Obama’s ageist Cat Food Commission got an earful from the Government Accountability Office.

According to the report by the GAO, raising the Social Security retirement age would disproportionately hurt the poor and minority workers and increase disability claims by older people unable to work until they drop, government auditors told Congress.

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

The report, obtained by the AP ahead of its scheduled release, further substantiates my argument against raising the eligibility age for Social Security benefits.

Sen. Herb Kohl (WI-D)  said it best:

“There’s more to consider than simply how much money the program would save by raising the retirement age. [Many] 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 born in 1960 or later.

Last week, the Cat Food Commission’s leaders, Erskine Bowles, a Democrat, and Alan “Social Security is 300 tits on a cow” Simpson, a Republican, proposed a increasing the retirement age to 69 and eliminating cost-of-living adjustments.

This entry was posted in Cat Food Commission, News, Poverty, President Barack Obama and tagged , , , . Bookmark the permalink.

8 Responses to GAO Report: Raising Retirement Age will Hurt the Poor

  1. TOM339 says:

    The so-called debt reduction commission is Obama’s baby.

    He hand-selected every member and proudly tells anyone who will listen (the number is shrinking on a daily basis) that “the commission is bipartisan.” Obama is obsessed with being bipartisan. In fact, he’s bipartisan to the point of absurdity. His commitment to being bipartisan has effectively rendered his presidency irrelevant.

    You know what they say. You can’t chastised a coward for acting like a coward.

  2. MichaelTAtheist says:

    Let’s stick a broom-stick up Obama’s ass and retire him!

  3. I think Barry will be headed back to Chicago in 2012.

    His base of support is getting smaller and smaller. His fall from grace is rather spectacular and all in 2 years.

  4. “I was told I couldn’t retire and all I got was this lousy can of cat food.”

    There’s t-shirt money to be made.

  5. Rachel says:

    Social Security is funded via FICA payroll deductions. If you work, you pay FICA taxes so this ridiculous commission is barking up the wrong tree. If President Nitwit wants to go down in history as the president who paid off the $14 trillion dollar debt, he needs to cut military spending. The Pentagon has never been turned back on a request for additional military spending. The military is a drug addiction and the American tax payers keep buying the drugs. While I’m at it, close the 900 military bases the US maintains around the globe. We can no longer be the world’s police force. Those days are over.

  6. Peace Nick says:

    But isn’t this the real goal of forcing Americans to work until they drop?

    Then, fewer people will be alive to access benefits. It’s in the best interests of the federal government if Americans die before they access benefits and retire.

  7. Harry says:

    Obama can kiss my taint.

  8. Walk on Socks says:

    VP Joe-Boy Biden says 2014 is now the firm date for the U.S. to leave Afghanistan.

    What happened to the summer of 2011? If we’re all here in 2014, I promise you, whoever is running this cesspool nation will extend the withdrawal date to 2020, then, 2026, then 2035 and so on and so on and so on.

    Empire is why the current son-of-a-bitch is trying to rob the Social Security trust fund of money. Obama and whoever follows him know the Social Security trust fund is the last source of funding to keep the American Empire alive and functional.

    We need a revolution. An armed, all out revolution to take back our country. If we don’t act and soon, there will be nothing left. The clock is ticking.

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