(ConservativeInsider.org) – At the current pace, Social Security is set to run out around 2034, meaning retirees will only get a little over three-quarters of their payments after that. For the approximately 50 million people collecting these benefits, that could be a major issue as they need their benefits to pay for prescription medications, food, and rent. While lawmakers have tossed out various ways to fix this issue, Senator John Kennedy (R-LA) is asking Congress to consider raising the retirement age.
On Sunday, March 12, in an interview with Fox News, Kennedy told host Shannon Bream that America “ought to talk about” raising the age of retirement. He noted Americans have a longer life expectancy than years ago, implying that they can work a little longer because they will be collecting benefits further along in life.
Kennedy reignites entitlements debate, says Congress should 'talk about' extending retirement age | Just The News https://t.co/2OPQ5P59Mb
— John Solomon (@jsolomonReports) March 13, 2023
According to the CDC, women in America can expect to live to the age of 79.3 years, while men’s average life expectancy is 73.5 years. These numbers marked a 0.9-year drop in 2021 from the year before, following a 1.8-year drop in 2020. Together, these statistics made up the largest two-year decline since 1921-1923.
During the interview, Senator Kennedy asked Bream, “does it really make sense to allow someone who is in their 20s today to retire at 62?” While the answer is up for debate, the lawmaker also pointed out that Medicare, which will also run out of funds at its current rate, pays a higher amount to a hospital performing surgery than it does to an outpatient clinic doing the same procedure. He noted that does not make sense and criticized Biden for ignoring the issue.
Some Republicans are hoping to see Social Security and Medicare totally dismantled, although some are still hoping to keep the federally-run benefit programs, just at a lower cost. Either way, something must change if the benefits are to continue.
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