December 14, 2012

Hutchison going wingnut on 'saving' Social Security

Over the past several years, Kay Bailey Hutchison had developed and cultivated an image as a moderate conservative Republican, that is a non-wingnut conservative.

As she heads toward retirement pasturelands, she seems determined to gut that.

The latest? Her plan to "protect" Social Security.
I have put forth a plan, the Defend and Save Social Security Act, to preserve and strengthen Social Security.  My approach is sensible, fair, and easy to implement.

First, as Americans live longer, it makes sense to increase the retirement age gradually – without impacting those who are about to retire.  Under my bill, anyone who is currently 59 years or older would not be affected.

For everyone else, both the normal retirement age and early retirement age would increase by three months each year, starting in 2016. That means the normal retirement age would reach 67 by2019, 68 by 2023, 69 by 2027 and 70 by 2031. The early retirement age would also be gradually increased to 63 by 2019 and 64 by 2023.
Reality? Kay Bailey Cheerleader is all wet in numerous ways.

First, as anybody who knows one iota about Social Security knows, FICA taxes have zip to do with the general budget, and so does Social Security's expenditures.

Second, life expectancy is more and more nearly plateauing.

Third, related to that, life expectancy may already be flat for anybody not in the 1 percent.

But wait, that's not all! Any year the COLA would be above 1 percent, her act would trim 1 percent off the COLA.

Of course, the Big Question is not about KBH — it's about what sort of "negotiations" Dear Leader will do with allegedly "sensible conservatives" like her.

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