The purpose of raising the retirement age, we’re told, is to increase cat food sales save money and put Social Security on a path to long-term solvency. But the bean-counting geniuses Erskine Bowles and Alan Simpson didn’t take one thing into account: it could actually cost more to the system if people go on disability in those later years because they’re unable to work. And this wasn’t the National Hippies Foundation who made this assessment, it was the Government Accountability Office.
The projected spike in disability claims could harm Social Security’s finances because disability benefits typically are higher than early retirement payments, the Government Accountability Office concluded.
The report, obtained by The Associated Press ahead of its scheduled release Friday, provides fodder for those opposed to raising the eligibility age for benefits, as proposed by the leaders of President Barack Obama’s deficit commission.
“There’s more to consider than simply how much money the program would save by raising the retirement age,” said Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging. The report shows an unequal effect on certain groups of people, he said Thursday, and many of them “would have little choice but to turn to the broken disability program.”
The GAO report really opposes raising the age for early retirement, because of the disability issue. Less remarked-upon than the increase in the age for full benefits from 67 to 69 in the Bowles-Simpson report was their proposed increase of the early retirement age from 62 to 64. The two claim that a hardship exemption for people with stressful jobs would allow for retirement at 62, but GAO found it would still add to the overall cost of the system.
Bowles and Simpson are fond of saying that everyone has to sacrifice. Apparently that also means the long-term solvency of Social Security, which would be harmed by raising the early retirement age.




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They were on Morning Joke spewing their crappola. Mika and Scarborough were positively excited!
This morning….no edit..:)
was somewhat encouraged to see AARP jump in here – yeah, I know it’s only the beginning but I was thinking they were gonna go along like PP/NARAL did in the Healthcare burlesque –
man, am starting to think Obama et al made an epic miscalculation on this – at least on their optics – so not going the way they planned
Bowles and Simpson love to wheel out that canard about “everyone” having to sacrifice, when they actually mean only the poor chumps who are bringing down less than one million dollars in income should sacrifice.
God, but I do hate those two mean-spirited, morally bankrupt men-and the financial frauds who bankroll them.
We never intended my husband to take SS early. Never! He just did. Our business is pretty non-existent and we need the extra cash to pay off some of the debt.
My husband’s brother can’t get a job where he lives and is in North Dakota working, but how long that will last is anyone’s guess. He was well qualified for a position with a large local business, but they just don’t hire anyone over the age of 50. They don’t get rid of their employees over 50, but they won’t bring anyone on that is older.
Obama’s thinking is he can hide behind Erskine Bowles’ and Alan Simpson’s skirts. Obama thought no one would notice that it was he who created the Catfood Commission. He’s always hiding behind somebody’s skirt: Bush’s, Mitch McConnell’s, Petraeus’, Blankenship’s…you name it. One of these days, he’s going to have to quit peeking out from behind those skirts and take a huge hit for his decisions.
Sorry, cbl. I meant to reply to your comment.
Every congressperson should be required (with no access to income or computers or blackberries or cell phones) to live with families for 3 months in the conditions of bare or no income and no health insurance, and then stick that in their pipe and smoke it.
Where did you see AARP jump in there? Novelli helped Rivlin roll out the Social Security cuts under the Rivlin-Domenici plan.
You can always depend on Killer Joe and Mika to help Erskine Bowels steal our Social Security. Lying liars lie and especially on their corporate controlled tee vee.
These millionaires are making it up.
I saw about five minutes of that segment, after which I clicked the “Off” button and did some Exorcist-style, head-spinning projectile vomiting.
Is Mika just incredibly infatuated with herself, or am I missing something?
“Well I never…”
As per the GAO report 57% of folks older than 55 who lost their jobs reported that they were forced into full or part-time retirement. What are we supposed to do?
Simpson, Bowles, Rivlin, Domenici, Novelli must live on a different planet than we do.
Would Mika have a job if her daddy wasn’t a prominent figure? After all, there is a surplus of empty-headed pretty women and men to read the news.
She seems to be a spoiled rich woman with no clue about the real world, and she seems to, at the very least, to adore Joe to pieces. JMHO
She has the “you can never be too thin or too rich” attitude…yeah, she reminds me of Wallace Simpson. Always harping on overweight people. She really wants a gas tax too…real badly, that’s when she’s trying to sound “intelligent”. When Simpson and Bowels (/s) were yacking she was lobbying for a gas tax.
they made a statement – it’s in the link
and again, don’t want anyone to think I think AARP is in our corner – just their jumping in indicates how poorly Obamacorp has anticipated the public response
That is a very clever insult from a senile fool such as Simpson. He insults a labor union labor by projecting his very own deception. And he insults the union membership. The Multi-millionaires always make it up.
Mika is beyond disgusting. The way she looks at married joe makes me uncomfortable.
Good morning CBL.
Good morning all.
Don’t really see a way he could have messed this up, its the most obvious of anything he has done so far.
“RayGun was great, he saved social security”
- Obama
no one’s asked – but I think last weeks Tax Cuts/SS/Unemployment trifecta pretty much blew up Obama’s plans for stealth mode on this – folks are demanding accountability in some unlikely and usually very friendly to Obama places :D
mornin’ baby
Nice idea but wouldn’t matter even if this could be made to happen. They’d all tromp off to do their stint, then scurry back to DeeCee and their fat K St corporate payola, and poof! any thoughts of the “small” proles would flee from their pin heads. They just don’t give a sh*t, and Doug Coe has done an excellent job with his C Street “Family” Church at endorsing the view that Jesus would agree with the money-changers in the Temple, and Jesus would screw the small people, if given half a chance.
These people are utterly corrupt and nothing will change their minds.
I read that their legislative director offered a quote. You are right about that. But Novelli is their director and he made the presentation of the Social Security cuts at the Rivlin-Domenici plan roll-out press conference. I will try to find you a link to that press release conference. Every time that I think I am being cynical, I am affirmed that I am just being realistic. I wrote to an AARP publicist a few days ago to ask if he intended to offer a rebuttal that AARP in open to cutting Social Security benefits and I have not heard back from him.
obvious to you and I and folks here – but looks to me like Mr I Got This, Mr I Can Finesse These Dem Rubes – misjudged and mishandled his little tableaux
cbl. You can watch the video of their roll out of their plan (includes Novelli) here)
http://bipartisanpolicy.org/projects/debt-initiative/about
Turns out Novelli is the ex-CEO of AARP. MY apologies on that one. Still I have not heard back from AARP on this:
http://www.cnbc.com/id/40194325/page/3/
David Dayen has a fresh cross-post available: Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that I do not share”
The only problem with your catfood commission graphic is the catfood in question is more likely to be kibble and not canned meat.
it is prudent to keep our eyes on a group as influential here as AARP – I have put them on notice numerous times on this – ‘we’re out here and watching very closely”
The increase minimum age increase from 62 to 64 is CRIMINAL because the actuarial reduction makes getting the benefit at 62 no more costly than getting it at 64.
Simpson is just being mean – and Bowles went along with it – proving that neither knows jackshit about the system.
Meanwhile no one notes that the max age for Social Security disability payments payout is the month of your 65th birthday – you then convert to regular Social Security – which means an income cut because 65 is now under the Reagan increase in the retirement age is an earlier than “normal” retirement age.
Just maddening.
I realize that somebody needs to keep an eye on the dogs, but watching that stuff was making me crazy with anger. Watching that show is like trying to chew dirt.
s/
MB: Oh gracious and honorable Mr. Simpson, I just wanna kiss you!
JS: Me too!!!
G&HMS: Only if you do it nice.
MB: So masculine….powerful….<smooch>
JS: Coming up next, a paid-for shill talks up the greatness of serfdom!
/s
Put each in for just two weeks, 24/7, with a homeless family living in their car in, oh, say Detroit. That should just about do it.
The corporations and their bankers will get more profits if old people retire later and have to compete in the workforce at miserable wages. The big boys also don’t want the FICA tax imposed on wages over $106,000, because that would also reduce their profits and increase their taxes. It’s all about money, not people, but the public is more interested in royal weddings than in what kind of vaseline is being used to hose them.
The deficit commission requires EVERYONE to accept a cut – the working class get a cut in their Social Security benefits, and the wealthy get a cut in their marginal tax rate! Where did Obama find these idiots?
I think so, too. Obama saw the uproar the possible extension of Bush tax cuts has caused among some of his loyal subjects. Well, they just finished campaigning on the fact that “Republicans want to extend Bush tax cuts” and now they’re caving in the lame duck session. Obama must be of imagining what’s going to happen with SS when he can’t say “the Republicans made me do it.” He’s becoming exposed.
People don’t want to hear about what Republicans and Tea Partiers are saying or doing. They want to know what Obama and the Democrats are going to do about it.
No, you don’t get it. Disability will be cut too. Shared sacrifice, people!
Yeah, raising the retirement age is the exact opposite of what needs to be done.
First, is there any data showing that the 66-plus age group files or becomes disabled at a higher rate? And if so, how much higher?
Because there’s no way that disability is a financial-management decision or a retirement plan. It’s a legal term that is difficult to meet and that no intelligent person would take who still had any hope or chance of future employment.
If you become disabled before becomming eligable for Soc. Sec. (SSI) payments are MUCH lower. But at any rate, this isn’t something you enter into by choice. Whether or not it costs or saves money is related to the rate-of-injury or disablement by those older than 65 and younger than 68.
Hard to believe there’s a significant difference, but that’s without seeing the actual numbers.
Easy – cut disability payments.
Sign this petition to shut down the catfood commission and prevent social security cuts.
http://www.change.org/petitions/view/president_obama_shut_down_the_catfood_commission_now