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There are numerous viable options to preserve the retirement system, including Social Security, in a fiscally sustainable way that gives families adequate time to plan and strengthens support for those who need it the most.
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Medicare’s financial problems affect the entire budget, and are largely responsible for projected increases in federal deficits.
As a federal program, Social Security cannot be any stronger financially than the overall federal government, and looming financial problems in Social Security will have a negative impact on the Federal budget as a whole.
Most notable and controversial among the reforms were movements to raise the minimum retirement age from 60 to 62 by 2018, and the full retirement age from 65 to 67 by 2023.
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
The rapid growth in health care costs is the largest and fastest growing fiscal challenge.
Social Security is an important program that is part of the fabric of America. We must ensure that Social Security is available for future generations.
While proposals to raise the retirement age are intended to improve the financial health of the Social Security program, GAO finds that such changes could produce an opposite result, while also having an adverse impact on some of society’s most vulnerable members.