Wednesday, April 07, 2010

Or At Least That Guy From AEI

It'd be nice if this article included an 'expert' who doesn't actually think raising the retirement age is necessary, because they exist.

Many Social Security experts agree that raising the retirement age is one of the solutions that must be considered if the 75-year-old entitlement program is to avoid insolvency.

"Any expert from any political spectrum will tell you that Rubio was right," said Andrew Biggs, former No. 2 at the Social Security Administration and now with the conservative American Enterprise Institute for Public Policy Research.

And here's a bit of innumeracy. Who can spot the problem?

Florida Social Security

3,547,492: Total number of beneficiaries

2,441,147: Retired workers

434,235: Disabled workers

279,367: Widows

162,978: Spouses

229,765: Children

$3,791,084: Total payout per month

Source: U.S. Social Security Administration, December 2008.