Social Security’s pending insolvency grabbed consideration on the Republican presidential debate Wednesday night time, with some candidates saying they’d be keen to lift the total retirement age for younger folks simply beginning out.
“We have to raise the retirement age,” mentioned former New Jersey Gov. Chris Christie. “I have a son who’s in the audience tonight, who’s 30 years old. If he can’t adjust to a few years increase in Social Security retirement age over the next 40 years, I got bigger problems with him than his Social Security payments.”
Also see: ‘Rich people should not be collecting Social Security,’ Chris Christie says at GOP debate
Nikki Haley, the previous South Carolina governor, mentioned guarantees to present older adults have to be saved, however younger folks simply beginning out ought to see greater retirement ages.
“What we need to do is keep our promises, those that have been promised should keep it,” Haley mentioned. “But for like, my kids in their 20s, you go and you say ‘We’re going to change the rules.’ You change the retirement age for them.”
Currently, the total retirement age is 67 for these born in 1960 or later.
Read: Social Security is now projected to be unable to pay full advantages a yr sooner than anticipated
Haley declined to quote a selected age that retirement needs to be raised to, however mentioned it ought to mirror longer life expectancy.
Sen. Tim Scott, nonetheless, mentioned he would shield Social Security for older adults and never elevate the retirement age.
“Let me just say to my mama and every other mama or grandfather receiving Social Security: As president of the United States, I will protect your Social Security.”
Florida Gov. Ron DeSantis mentioned he’d shield Social Security for seniors.
“I know a few people on Social Security and … my grandmother lived until 91 and Social Security was her sole source of income. And that’s true for a lot of seniors throughout this country,” DeSantis mentioned. “So I’d say to seniors in America: Promise made, promise kept.”
When pressed whether or not he would elevate the retirement age, he mentioned: “So it’s one thing to peg it on life expectancy, but we have had a significant decline in life expectancy in this country, and that is the fact.”
Source web site: www.marketwatch.com
