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.