About Strengthening Social Security - Peter G Peterson Foundation
It’s a rather simple principle, but the first step to solving any issue is to completely understand it, and define reason the problem exists in the first place. In other words, a “root cause analysis.” We read many articles which attempt this, and even more which offer a solution obviously developed without a full knowledge of why the issue even exists, so finding this excellent article was pretty refreshing.
The Peter G. Peterson Foundation has a mission to “raise awareness of America’s long-term fiscal challenges and promote solutions to ensure a better economic future.” And to support that mission, the Foundation published this exceptionally precise definition of how important Social Security is to the well-being of American seniors, why Social Security is facing a financial crisis in as soon as 10 years, and why Congress must act sooner, rather than later, to reform Social Security. Click here to read the PGP Foundation article.
As an example of the leading thoughts on how to reform Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC Action, AMAC’s advocacy arm, supports raising the thresholds at which benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade.