Let’s make a deal: Fix Social Security and we’ll raise the debt limit

Keep it simple.  Republicans in Congress should agree to raise the debt limit under one condition:  fix Social Security.

And I’ll offer the fix:

  1. Continue incrementing the retirement age 1/2 year each year until it reaches 70 years
  2. Index the retirement age thereafter to life expectancy
  3. Raise income limit to which the payroll tax applies and bring all into balance

Do not budge on #1 and #2.  Allow negotiating room on #3.  Perhaps lower the overall tax rate and increase the income limit a bit more.  Alternately could means test and leave taxes as the are (but the minor tax adjustment is simpler and in my opinion preferred).

That’s it.  And then let’s get on with debating the 2012 fiscal year budget.

Advertisements
This entry was posted in News and politics. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s