My idea:
1. Stop the intergovernmental IOU’s when applying the Social Security taxes collected through payroll deduction into the General Fund to be used for general spending. Immediately create a Fund for the monies from which they can be used for no other purpose except paying retirees.
2. Either through privatized accounts of better government management investment (like the Thrift Savings Plan already in existence) in certain mutual funds, etc should be allowed and must be accomplish to ensure a certain percentage of return on the investment to increase the fund balance.
3. Immediately increase the retirement age to 77-80 years old.
We also must remember what is done here is totally separate to the other needs of tax reform, spending reform, etc.
“3. Immediately increase the retirement age to 77-80 years old.”
Just because people can live longer doesn’t mean they can work longer. You’d be dragging people out of their nursing home beds.
LOL! Did you think before posting?
The LE in the U.S. is 77 - 77.9 years.
http://www.cdc.gov/nchs/fastats/lifexpec.htm