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Analyzing two key potential Social Security changes offered for consideration - MarketWatch.com
As noted in today’s headline post on this site, many policy experts are weighing in with specific proposals to adjust Social Security that could help address the program’s impending financial crisis. In a post today on MarketWatch.com, retirement reporter Jessica Hall examines ideas advanced by the Center for a Responsible Federal Budget (CRFB) and the Progressive Policy Institute (PPI), noting that despite their grounding in innovation, the changes are drawing opposition from advocacy groups. The two unrelated proposals–one addressing a change in the application of cost-of-living adjustments, the other proposing a shift in the basis for calculating benefits–face challenges from senior support groups due to their impact on future benefits. Read the MarketWatch proposal in full here.
Despite opposition to the suggested changes, it’s reassuring to see arguments emerging over Social Security insolvency. It’s a problem that won’t go away, and in fact is steadily approaching a cliff just six years from now.