Will Mike Bloomberg raise the Social Security age? – By Brittany De Lea (FOX Business) / March 3 2020
The former New York City mayor says he isn’t opposed to the idea – but there’s one big obstacle
Former New York City Mayor Michael Bloomberg said changes are going to have to be made to Social Security in order to make sure it remains funded – but, politically, some of the alternative options just aren’t viable.
“We’re going to have to put more money into Social Security and not just fund it the way it’s been funded now, at the rate things are going,” Bloomberg said during a Fox News town hall on Monday.
Bolstering the program has been a focus on Capitol Hill as 10,000 baby boomers turn age 65 each day in the U.S. and funding is running low. Social Security’s reserve funds are expected to be depleted in 2035, at which time the program will no longer be able to pay out benefits in full.
Continue to article: https://www.foxbusiness.com/personal-finance/mike-bloomberg-social-security-age
