That “want to work longer stuff” is nonsense, IMO.
I paid the max SS for as long as I can remember and I couldn’t wait. I even took the 62 years old option and took a 25% cut. Frankly, I was worn out after the 45 years of working - extensive travel in the last 30 years.
I can understand his wanting to cut the deficit, but the only people who want to work longer are likely those who are forced to, IMO. We can cut a crapload of other entitlements before that.
True. There are a lot of entitlements that younger people get that could be cut first. However, the notion that Social Security could get reduced by about 30% holds true on its current trajectory. Eventually, the IOUs will run out, and then they will have to pay less to balance things out.
Otherwise, they will use more printy-money, and that will just contribute to inflation.