Report: ‘Tweaks’ will fix Social Security shortfall

Posted May 17, 2010 at 1:52 p.m.

Associated Press | A new report from Congress says Social
Security’s big shortfall can be wiped out with just modest changes to
payroll taxes and benefits.

The report by the Senate Special Committee on Aging says Social
Security faces a $5.3 trillion shortfall over the next 75 years. But
the massive government retirement program can be made healthy and whole
through what the committee’s chairman describes as small “tweaks.”

Some of the options in a report being released Tuesday by the committee
are politically dangerous, such as increasing payroll taxes or reducing
annual cost-of-living increases for Social Security recipients. Others,
such as gradually raising the age when retirees qualify for full
benefits, wouldn’t be felt for years but would affect millions.



  1. Lolly, CO May 17, 2010 at 3:31 pm

    100% no new taxes for SS, until retirement age, cost of living AND A MAXIMUM REQUIREMENTRS to recieve the money. It’s no longer a fund you pay into its a tax for geezers. Fix it right. No more sights like the “first” baby boomer taking a picture of her 1st soc sec check beside her freaking boat. That’s just sick.

  2. JOHN May 17, 2010 at 4:03 pm

    Do not let anyone collect until they hit 65 to 70 years old

  3. Carl May 17, 2010 at 5:02 pm

    The best tweak would be to prohibit the pols from looting the trust fund. Think we all know that’ll never happen.

  4. jj May 17, 2010 at 5:05 pm

    It’s no longer a fund you pay into its a tax for geezers.
    It has ALWAYS been a tax for geezers.

  5. Treat May 17, 2010 at 5:43 pm

    The program was created during the Depression as a safty net and it’s an INSURANCE program not free entitlement. The way to fix is have the fee limit, of how much the very rich pay into the fund, be rasied. Wall Street the wealth elite pay much less, progressivly, than the middlle & working class. This is not the time to reduce payments to the elderly and disabled. They are truely hurting.
    Wall Steert takes government money after screwing milions
    (Enron etc., historically, and currently-AIG, etc.)and then continue(s)to give themselves Huge Bonuses that many people will never make in their lifetime.

  6. J in KC May 17, 2010 at 9:26 pm

    Socialist Security, the grandest pyramid scheme ever devised by Man, at least until the bank bailouts.