# Should the (US) retirement age be raised? **URL:** \ **Category:** Great Debates\ **Created:** [October 20, 2010, 1:30am UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729 "2010-10-20T01:30:22Z")\ **Posts on this page:** 14\ **Page:** 2
**Author:** ![Susanann](https://avatars.discourse-cdn.com/v4/letter/s/7ab992/32.png) [@Susanann](https://boards.straightdope.com/u/Susanann)\ **Post date:** [October 21, 2010, 8:22pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/21 "2010-10-21T20:22:02Z")
> [@DrDeth](#): > > 1. Why are you assuming that the “old person in their 60’s”:rolleyes: are re-entering the workplace, as opposed to simply continuing their job? > > 2. Keen sharp mind? You really think that dudes in their 60’s are usually senile already? : 1. Because today’s employers want to lay off the older higher paid workers.. It is the guys over age 55 that every employer wants to get rid of. 2. I did not say “senile”. Older people have slower minds, slower reactions, are more forgetful, and less apt to adapt to new ways, less apt to think up new solutions. Even Al Einstein came up with most of his best ideas when he was younger. ---
**Author:** ![Susanann](https://avatars.discourse-cdn.com/v4/letter/s/7ab992/32.png) [@Susanann](https://boards.straightdope.com/u/Susanann)\ **Post date:** [October 21, 2010, 8:29pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/22 "2010-10-21T20:29:06Z")
> [@JohnT](#): > > The solvency of SS wouldn’t even be in question if the retirement age was continually adjusted to the original 1935 life expectancy norms. The solvency of SS wouldnt even be in question if the contributions put in had not been spent by the government on other things. If all the past contributions had been saved and invested, and held for SS only, then there would be a ton of money in the SS lockbox right now, solvent for another 100 years. Solvency of SS can be obtained much more easily by other methods instead of raising retirement age . ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [October 21, 2010, 8:32pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/23 "2010-10-21T20:32:32Z")
> [@Susanann](#): > > The solvency of SS wouldnt even be in question if the contributions put in had not been spent by the government on other things. > > If all the past contributions had been saved and invested, and held for SS only, then there would be a ton of money in the SS lockbox right now, solvent for another 100 years. > > Solvency of SS can be obtained much more easily by other methods instead of raising retirement age . Saved and invested in _what_? T-bills? :rolleyes: The fact is that there were structural problems with SS since its inception in 1935 and those structural problems were not addressed as they became evident. You ignoring this fact doesn’t make it go away. ---
**Author:** ![Lanzy](https://avatars.discourse-cdn.com/v4/letter/l/74df32/32.png) [@Lanzy](https://boards.straightdope.com/u/Lanzy)\ **Post date:** [October 21, 2010, 8:42pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/24 "2010-10-21T20:42:56Z")
To begin with the Cap has been raised, continously as far as I can tell. It has managed to keep pace with my raises for the last ten years. I was one of the very few in my office that even knew there was a Cap since almost everyone else fell well below it, so I don’t think most people care so keep on raising it. Personally I am beginning to feel that I have lost my last job because I haven’t been able to find anyone out there willing to hire this old 59 yr old geezer. If I start drawing SS at 62 it will be simply because I haven’t found a job by then. I’ll be lucky to find a job paying half what I got even ten years ago. Raising it will put people like me on unemployment as long as they can draw it, and they will then take as early a retirement from SSN as they can get. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [October 21, 2010, 9:32pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/25 "2010-10-21T21:32:06Z")
> [@Susanann](#): > > 1. Because today’s employers want to lay off the older higher paid workers.. It is the guys over age 55 that every employer wants to get rid of. > 2. I did not say “senile”. Older people have slower minds, slower reactions, are more forgetful, and less apt to adapt to new ways, less apt to think up new solutions. . 1. Cite? 2. Older than who? Slower than who? I’ll bet I am older than you, but… Lanzy, yes, it can be harder to start a new career at a certain age. No doubt. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [October 21, 2010, 9:43pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/26 "2010-10-21T21:43:24Z")
> [@Susanann](#): > > The solvency of SS wouldnt even be in question if the contributions put in had not been spent by the government on other things. > > If all the past contributions had been saved and invested, and held for SS only, then there would be a ton of money in the SS lockbox right now, solvent for another 100 years. > > Solvency of SS can be obtained much more easily by other methods instead of raising retirement age . You don’t understand this stuff very well, do you? Where do you propose SS invest its money? Enron shares? Mortgage backed securities? If you have a T-bill fund worth $10,000, do you think it is worthless because the government spent the money you gave it for the bills? If so, please sign it over to me. I’ll risk it. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [October 21, 2010, 9:49pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/27 "2010-10-21T21:49:46Z")
> [@Susanann](#): > > 1. Because today’s employers want to lay off the older higher paid workers.. It is the guys over age 55 that every employer wants to get rid of. > 2. I did not say “senile”. Older people have slower minds, slower reactions, are more forgetful, and less apt to adapt to new ways, less apt to think up new solutions. Even Al Einstein came up with most of his best ideas when he was younger. I’m well over 55 - and survived several massive layoffs at my company. In fact, younger people suffered more than most of us older ones, but what you were doing counted the most. There are also laws about this. At 59 minus 3 weeks I’m coming up with plenty of new ideas, thank you. In the sciences, and especially math, you are unlikely to come up with anything revolutionary after 35 or so. That’s what grad students are for. On the other hand, older researchers have a broader perspective and can come up with that obscure reference from 30 years back. Now I’ll grant that you are correct for athletes - but that is why coaching and insurance sales were invented. ---
**Author:** ![Quartz](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/quartz/32/267_2.png) [@Quartz](https://boards.straightdope.com/u/Quartz)\ **Post date:** [October 21, 2010, 10:47pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/28 "2010-10-21T22:47:32Z")
> [@Susanann](#): > > Good luck with that!!! > > WHO??? do you think is going to want to hire YOU when YOU are 69? Did you fall out bed on the wrong side this morning? There are a number of businesses who specialise in hiring older people. They cost them less for the expertise gained. B&Q are one whose owners have made a fortune through this practice. Sure it’s not a well-paid job but it’s better than nothing. Some older people take part-time jobs more for the social interaction than the pay. It gets them out and about and meeting people and gives them a chance to exercise their brains. There’s profit there for the canny business owner. ---
**Author:** ![elfkin477](https://avatars.discourse-cdn.com/v4/letter/e/a9a28c/32.png) [@elfkin477](https://boards.straightdope.com/u/elfkin477)\ **Post date:** [October 23, 2010, 9:15pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/29 "2010-10-23T21:15:28Z")
> [@Susanann](#): > > 1. Because today’s employers want to lay off the older higher paid workers.. It is the guys over age 55 that every employer wants to get rid of. They might _want_ to get rid of the older workers rather than younger ones, but they don’t. Workers in their 20-30s are more likely to be laid off than older workers. [cite](http://online.wsj.com/article/SB124270050325833327.html). ---
**Author:** ![Fear\_Itself](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fear_itself/32/19637_2.png) [@Fear\_Itself](https://boards.straightdope.com/u/Fear_Itself)\ **Post date:** [October 23, 2010, 10:52pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/30 "2010-10-23T22:52:45Z")
> [@Susanann](#): > > As an employer, tell me why would I want to hire an old person in their 60’s, when I can have my pick of thousands of young healthy people who are able to really work hard and are able to give me extra overtime and able to perform with quick reactions, agility, provide me with a worker who has a keen sharp mind, and who would not cause my company-provided dental and health insurance premiums to increase? Bet you wish you supported socialized medicine now! Tell, which group has more maternity claims and family leave claims? ---
**Author:** ![LouisB](https://avatars.discourse-cdn.com/v4/letter/l/dfb087/32.png) [@LouisB](https://boards.straightdope.com/u/LouisB)\ **Post date:** [October 23, 2010, 11:55pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/31 "2010-10-23T23:55:51Z")
I’m seventy and I had something to say but I’ve forgotten what it was. Oh, I remember, I was going to complain about being sick. The economy sucks. It must have been all the old senile geezers who caused it to tank, right? Where did I just read that GW Bush’s failure to privatize SS is what he considers his biggest failure as President? If he had managed that, we wouldn’t need no stinking death panels. ---
**Author:** ![Damuri\_Ajashi](https://avatars.discourse-cdn.com/v4/letter/d/898d66/32.png) [@Damuri\_Ajashi](https://boards.straightdope.com/u/Damuri_Ajashi)\ **Post date:** [October 24, 2010, 9:09pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/32 "2010-10-24T21:09:18Z")
> [@Susanann](#): > > Originally Posted by Susanann View Post > Who is going to hire 20 million old geezers ? > Where are jobs for all these old people who have been laid off, and most of which have numerous health problems? > (note: be specific, name specific job openings for all 20 million currently available job openings, real company names and their addresses ) > > 1. You are being nonsensical, or trying to be funny. It is a well known fact that there are millions of people in America who are aged 62 - 70 years old. The age bracket of age 60 - 70 is the fastest growing segment of our population. They will all need jobs if you raise the retirement age, and so far, you have not come up with even a “1” single million currently available job openings for elderly people. > 2. You are in a different world that we are. The world we are in does not have 10 million available jobs for elderly people, most of whom are sick and have medical problems. There is no employer in America who wants to hire millions of old geezers. > > The proposal of raising the retirement age in America to 70 at a time when there are even some healthy young people out there who may be having a little difficulty finding good paying fulltime work with health benefits, would be laughable if it werent so silly. And how do you propose we pay for all that. Big government (which you seem to hate so much) overwhelmingly consists of costs for social security and medicare. If we got rid of everything aside from social security, medicare/medicaid, defense/VA, and interest on the national debt, we would STILL have a HUGE deficit. How do you propose we balance the budget (without increasing taxes that is)? ---
**Author:** ![Damuri\_Ajashi](https://avatars.discourse-cdn.com/v4/letter/d/898d66/32.png) [@Damuri\_Ajashi](https://boards.straightdope.com/u/Damuri_Ajashi)\ **Post date:** [October 24, 2010, 9:13pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/33 "2010-10-24T21:13:29Z")
> [@JohnT](#): > > Yes, it should be raised. Since the inception of Social Security the % of Americans who live past the age of 65 has increased by 34.1% for men (from 53.9% to 72.3% (%'s are of all men who lived to the age of 21)) and 38% for women (from 60.6% to 83.6% (%'s are of all women who lived to the age of 21)), while at the same time the life expectancy of Americans who reach the age of 65 has increased by 20.4% for men (from 12.7 years to 15.3 years) and 33% for women (from 14.7 years to 19.6 years), while the “full retirement age” has only increased by 3%, from 65 to 67. > > [http://www.ssa.gov/history/lifeexpect.html](http://www.ssa.gov/history/lifeexpect.html) > > The solvency of SS wouldn’t even be in question if the retirement age was continually adjusted to the original 1935 life expectancy norms. The solvency of social security would also not be in question if we lifted the cap. ---
**Author:** ![Damuri\_Ajashi](https://avatars.discourse-cdn.com/v4/letter/d/898d66/32.png) [@Damuri\_Ajashi](https://boards.straightdope.com/u/Damuri_Ajashi)\ **Post date:** [October 24, 2010, 9:16pm UTC](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729/34 "2010-10-24T21:16:15Z")
> [@Susanann](#): > > The solvency of SS wouldnt even be in question if the contributions put in had not been spent by the government on other things. > > If all the past contributions had been saved and invested, and held for SS only, then there would be a ton of money in the SS lockbox right now, solvent for another 100 years. > > Solvency of SS can be obtained much more easily by other methods instead of raising retirement age . You don’t know what you are talking about. Social security trust fund has a US treasury IOU for every dollar that congress took from it. The rationale behind the “lockbox” was not to maintain social security solvency, it was to prevent the cash crunch when those IOUs came due. Social security’s solvency is in question despite all those IOUs because there isn’t enough money in IOUs (which earn interst) to cover the projected costs, not without a tax increase of benefit decrease. [Previous page](https://boards.straightdope.com/t/should-the-us-retirement-age-be-raised/557729.md?page=1)