Column: GOP promises to gut your Social Security, Medicare if they take power
GOP Sen. Joni Ernst wants to ‘reform’ Social Security in secret, an indication that the public won’t like the result
The GOP defends this proposal by pointing to the increase in life expectancy for those reaching 65 — “the average life expectancy for men reaching 65 increased from 77.7 to over age 82.9,” they write in their budget — implying that the average American spends a longer period collecting retirement than in the past. The average, however, masks a lot of diversity.
In fact, it makes perfect economic sense. The great virtue of Social Security is that it’s there for everybody, regardless of the prevailing investment market winds throughout anyone’s lifetime. It’s a lifetime, inflation-protect bulwark against bad or mistaken investment decisions.
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