It is very possible that the Social Security liability for the nation could be reduced through means testing. That is, independently wealthy persons who do not require social security benefits could be denied qualifying for them.The law would have to change to make that possible. How many would be affected and how much could be saved would have to be determined, however it would be significant.
Bear in mind that the Affordable Care Law is a form of means testing, and Americans can see that it is difficult to manage. However, in time, it is manageable.
The nation’s goal should be to produce a population that is self sustainable for their lifetime. That has not been an explicit objective, nor has the public and private partnership worked toward that specific end. Therefore, changing the rules must come with a lifetime of advanced notice.
So, let’s get started by addressing requirements for a sustainable economy with high assurance of a good life for all citizens.
Making changes in the rules should happen after the midterm elections and before the presidential election in 2016.
“Obama faces budget dilemma
By Erik Wasson
President Obama is facing a deepening dilemma about whether to abandon cuts to Social Security in his next fiscal blueprint, which is due out in March.
Obama touched the third rail of American politics last year when he proposed a new formula for Social Security and other entitlements that would result in benefits being cut over time.
Now congressional Democrats and unions are ramping up their pressure on Obama to drop the proposal, which many fear could become an albatross for the party in the midterm elections.
“We want the president to make very clear that he is going to stand with seniors, that he is going to stand with disabled vets,” Sen. Bernie Sanders (I-Vt.) told The Hill. “Good politics follows from good policy. When you have a middle class that is struggling it is bad public policy to cut programs that people desperately need. That is just wrong.”