US EditionAmerica's Debt Problem Is Also a Retirement Problem
- Moody's Investors Service recently acknowledged that America faces a debt problem largely tied to Social Security and Medicare funding gaps.
- This problem results from unfunded entitlements that exceed current 10-year budget projections and involve benefits Social Security cannot fully pay within 10 years.
- Many Americans retire early at age 62, while the normal retirement age for full benefits rises from 65 to 67, creating financial strain on the system.
- Experts recommend gradually raising the early retirement age to 65 over a decade and increasing payroll taxes by 2.5% on earnings above $250,000 to reduce the funding shortfall significantly.
- Addressing America's debt will require both later retirements and higher taxes, while supporting those who cannot work past 62 with disability programs and improving employment appeal for older workers.
13 Articles
13 Articles
Everyone should read Tillett’s column about federal debt
Tom Tillett’s May 21 column in LNP | LancasterOnline, “The economic, political and social dynamics of the federal deficit and debt,” is must reading for everyone who loves America enough to “invest” in its future.
America’s debt problem is also a retirement problem - Hawaii Tribune-Herald
The wise minds at Moody’s Investors Service finally acknowledged last week what the other two main credit rating agencies did years ago: America has a debt problem. Now it’s time for America to recognize that solving its debt problem will require addressing another hard truth: Americans have a retirement problem — specifically, they retire too soon.
Comment: Nation’s debt problem is also a retirement problem
HeraldNet.com HeraldNet.com - Everett and Snohomish County news from The Daily Herald in Everett, Washington The costs of Social Security require changes that would increase the early retirement age for more. Comment: Nation’s debt problem is also a retirement problem Wire Service
The Times of Northwest Indiana
America's debt problem is also a retirement problem
The wise minds at Moody's Investors Service finally ac-knowledged recently what the other two main credit rating agencies did years ago: America has a debt problem. Now it's time for America to recognize that solving its debt problem will require…
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