Lawmakers Seeking Consensus On Social Security Overhaul [Graham-Obama] ["bipartisan"] [RINO alert]

The Washington Post ^ | 2009-05-05 | Lori Montgomery

[rabscuttle385]

Key lawmakers from both parties have held tentative talks about overhauling the Social Security system, and Congress could turn its attention to the federal retirement program as soon as this fall if a bipartisan concensus emerges, House Majority Leader Steny H. Hoyer said yesterday.

"I am hopeful. It's a tough issue," Hoyer (D-Md.) said in an interview. . . . .

So far, Democrats have found a willing partner in the Senate, where Sen. Lindsey O. Graham (R-S.C.) has stated his desire to work with President Obama to make changes to keep Social Security solvent. . . . .

Graham said yesterday that he has spoken to Hoyer and Sen. Richard J. Durbin of Illinois, the second-ranking Senate Democrat, about the issue and that he stands ready "as a Republican to more than meet the president in the middle."

"I know what it takes to get a solution," Graham said. "I think we can get double-digit Republican support for a reasonable compromise. But the key to this, at the end of the day, is presidential leadership."

Graham described Social Security as "a math problem" that could be easily solved if both parties were willing to work together. He sketched out a plan that would include lower benefits for wealthy Americans, a higher retirement age and additional revenues. With the stock market devastated by the recession, the traditional Republican option of diverting Social Security taxes to new private retirement accounts is, he said, "off the table."

"You can do a combination of things, give a little here and give a little there, and get it done," Graham said.

[rabscuttle385]

RINO surrender alert!

[BobL]

Let’s see how long the wage cap survives this “fix”.

[Fred]

Hey, just raise the retirement age to 90 and we are done...

[NavySEAL F-16]

Say good bye to your 401k.

Just think of the money they will be able to spend when they take our retirement funds.

[K-oneTexas]

Raise the age to 90 ... agree.

Remove SS taxes from General Revenue and put into the SS dedicated fund ... 2010 forward.

Allow folks to opt out, some will need to be grandfathered, others can have the chioce.

Galveston opted out. See:

www.ncpa.org/pub/ba514

www.freerepublic.com/focus/f-news/1291745/posts

[sickoflibs]

If one thing made me want to hang GWB it was his willingness to raise the cap on FICA while saying tax increases were off the table.

I would be opposed to any reform, especially with democrats in charge. The FICA surplus for > 20 years collected under a lie.

[goldfinch]

Well...something has to be done, that much is for certain. I would prefer to see younger people be given the option to control at least part of their Social Security contributions. Now that so many people have taken losses in their 401 accounts, that idea is probably less popular than it was a few years ago. Unfortunately, the GOP did not push for that when they were in control. In any case, the USA must keep its promise to all those who were forced to contribute to Social Security. Conservatives should support that, as we stand for honoring our country's promises.

[budda1954]

Social Security can’t be in trouble. I believe that the Social Security Trust Fund has about two trillion dollars of our I.O.U.’s in it.

What the problem? “mega roll eyes”

[sickoflibs]

Social Security and Obama: Pension or Welfare?

[Bertha Fanation]

Can Candy Graham please just get off the stage.

[ProtectOurFreedom]

BOHICA! BOHICA! BOHICA!

[randita]

According to an advance copy of the speech, Hoyer will suggest that Congress could approve "more revenues," "restrain the growth of benefits, particularly for higher-income workers," "and/or we can raise the retirement age, recognizing that our life expectancy is higher today."

What's this crap? Means testing for Social Security now? After you've paid through the nose all your life, they're going to means test you? Then call it welfare - not Social Security. Quit the BSing.

[budda1954]

We made promises we can’t possibly keep. To pay our future entitlements, we would have to start taxing our income at over 70%. That ain’t gonna happen. Or, we could go bankrupt. That would be a stupid choice as well.

Default is the only recourse. And it’s only because our country never had the COURAGE to cut spending. I am fed up with both the Dem’s and the Republican’s.

[paul51]

I’d like the same retirement benefits that congress has. If it’s good enough for the people who work for me, it’s good enough for me. If it’s too good for everyone else, it’s too good for them. Same goes for health benefits.

[upchuck]

nobama and his thugs will wipe the floor with Pandsey. However we must always remember that he is, by his own admission, a "Democrat by night."

  Lindsey Ping
  "Republican by day, Democrat by night."

  Add me to the list. / Remove me from the list.

[guitarplayer1953]

The money would of been there if they had not robed from it over the years when they added the taxes collected from SS to the general fund that is when it went insolvent. All they have to do is keep there dirty little fingers off the money and truly put it into a lock box for SS only payouts.

[DustyMoment]

Here’s an SS overhaul that I would gladly support - Kill the whole d@mn thing. Congress can’t salvage it, they have pi$$ed away all the money that was supposed to go into a trust fund and, as a baby boomer, my retirement is gone . . . . . . . my IRAs, SS and ~1/2 or more of my 401K due to tall the government corruption.

[jcon40]

Doesn’t destroying the value of the dollar make this a different kind of problem ?

[org.whodat]

They will, but government workers will be exempted.