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VIDEO: Three Reasons to Reform Social Security Now
Posted By Danny Huizinga On July 17, 2013 @ 2:59 pm In Economics | Comments Disabled
In a recent video  by ReasonTV, Nick Gillespie describes Social Security as a “fiscal and demographic disaster.” Heritage research provides further support that the program “desperately needs to be reformed right now—for at least three reasons”:
The Heritage Foundation has a plan to address Social Security’s growing problems without burdening younger generations with higher taxes.
There are three reforms  that Congress can phase in right away: (1) replace the current cost-of-living adjustment with the more accurate chained Consumer Price Index; (2) raise the early and full-retirement ages gradually and predictably; and (3) focus Social Security benefits on those who need them most.
Moreover, Congress can help all Americans build additional retirement savings in accounts that they own and control, such as with the Automatic IRA .
Danny Huizinga is currently a member of the Young Leaders Program at The Heritage Foundation. For more information on interning at Heritage, please click here .
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2013/07/17/video-three-reasons-to-reform-social-security-now/
URLs in this post:
 recent video: http://www.youtube.com/watch?v=l-h42aN-Xwg&feature=player_embedded
 Heritage graph: http://www.heritage.org/multimedia/infographic/2013/06/social-security-deficits-are-permanent-and-growing
 Heritage graph: http://www.heritage.org/multimedia/infographic/2013/05/social-security-poor-return-on-investment
 Pew Research Center poll: http://www.pewsocialtrends.org/2012/12/20/the-big-generation-gap-at-the-polls-is-echoed-in-attitudes-on-budget-tradeoffs/
 three reforms: http://www.heritage.org/research/reports/2013/05/2013-social-security-trust-fund-reports-massive-deficits-benefit-cuts
 Automatic IRA: http://www.heritage.org/research/reports/2012/10/time-to-address-the-retirement-savings-crisis
 click here: http://www.heritage.org/about/departments/ylp.cfm
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