A new budget by a large and influential group of House Republicans calls for raising the Social Security retirement age for future retirees and restructuring Medicare.
For Social Security, the budget endorses “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.” It calls for lowering benefits for the highest-earning beneficiaries. And it emphasizes that those ideas are not designed to take effect immediately: “The RSC Budget does not cut or delay retirement benefits for any senior in or near retirement.”
Biden has blasted Republican proposals for the retirement programs, promising that he will not cut benefits and instead proposing in his recent White House budget to cover the future shortfall by raising taxes on upper earners.
Gen X will be retiring never. I’m older genX and nope. It’s true we are close to the age our parents did (well, not my parents actually, dad died in his 50s and Mom worked till mid 70s) but no, the “wealth transfer” will skip us, we will just work, barring disability, straight through. I take my PTO, work out, and try to move through life at a sustainable pace in general.