Date:12.06.2016, 04:51 Social Securitys retirement age serves as an implicit guideline for actual retirement, as nearly two-thirds of eligible workers choose to take Social Security benefits between the early and full retirement age. For Social Security, this means greater financial strain, and for the economy, it means a smaller workforce, lower economic growth, less retirement security, and lower revenue. Lawmakers should gradually and predictably increase the early and full retirement ages, and then index both to increases. Social Security and Disability already add to budget deficits. Since 2010, OASDI has taken in less money through payroll tax revenues than it pays out in benefits, generating cash-flow deficits. The 2013 cash-flow deficit was 71 billion.
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