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Topic: Social Issues
Number of pages / Number of words: 9 / 2321
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The quickest, most effective plan would be an opt-out plan that involves cutting benefits promised to Social Security. This would make it possible to back up money in the Social Security fund for the future. Retirees object to this plan because it simply will not cover the future rises in the cost of living and because it breaks promises of benefits to current and future recipients (Shipman)...


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As no political leader could support this plan and still hope for a chance at reelection, many people are leaning towards the other route, a phase-out plan. A phase-out would cut promises of increases in benefits and save money by raising the age of retirement. This plan sounds much better, but increased benefits are based on inflation and the cost of living, meaning retirees drawing from the system would not be claiming their full amount of promised retirement money (Armstrong)...


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