Congressman Suggests Raising Social Security Age to 70

House Minority Leader John Boehner found himself in hot water last week after he proposed raising the Social Security age to 70 to pay for the war in Afghanistan.

He also said that retirees with substantial income should not be entitled to Social Security payments at all.

"We need to look at the American people and explain to them that we're broke," Boehner said.  "If you have substantial non-Social Security income while you're retired, why are we paying you at a time when we're broke?  We just need to be honest with people," the Congressman said last week in an interview with the Pittsburgh Tribune-Review.

Boehner, a Republican, faced criticism from many quarters, but his Democratic counterpart, House Majority Leader, Steny Hoyer, said substantially the same thing recently.

Many Cranford seniors expressed anxiety when asked about the suggestion.  "I became a caregiver and had to stop working in my fifties, before being eligible for any benefits," said Mary Margaret Kostack.  "My company went bankrupt, so the decision to stop working was made for me.  If John Boehner gets his way, I am still not eligible for anything and would be out working to stay afloat."

Economist James W. Hughes, PhD, Dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers agrees that the discussion is useful in one sense:  "It would certainly help to keep the Social Security Trust Fund solvent longer, assuming it is solvent today."

Dr. Hughes points out that the dearth of employment opportunities presents a real concern in this debate.

"A key question is the enormous and unprecedented job deficit currently facing the country.  Approximately 8.5 million private-sector jobs disappeared in 2008 and 2009 alone."

Since there are so many people out of work and so few jobs available, it would be that much harder for older citizens to find work.

"Many people in their sixties may now not have the opportunity to keep on working until they reach 70 years of age, even if they want to.  Older workers may not be employable in the 'new' economy, thus placing them under significant financial strain if Social Security is not available to them," said Dr. Hughes.

Not everyone disagrees with the idea of raising the retirement age, including noted bioethicist Arthur Caplan of the University of Pennsylvania.

"I am not opposed to raising the age for benefits, given current lifespans, but not to 70; too rapid a jump.  This sounds like a good plan to institute in five years (or so)."

But Kostack is not convinced that Boehner's proposal makes sense, in particular the idea that seniors with savings should not receive Social Security benefits.  "The issue of money in the bank should never even come up. How dare any person who represents us say that our comfort can be compromised by a law?  Can you feel my burn?"