Missouri’s Junior Senator says it is time to make some changes to Social Security.
Roy Blunt told his colleagues on the Senate floor the program has not undergone comprehensive changes since 1983. He calls the current program unsustainable.
His plan would raise the normal retirement age by three months a year beginning in 2022 and ending in 2030. Blunt says an increase in the retirement age is mirrored in President Barack Obama’s fiscal commission, as is an accounting for longer average life expectancy.
Blunt also wants to look at a new cost of living index that looks more at the way retirees spend their money rather than working-age Americans, who tend to be younger and have different needs and wants.
He says his plan would not take Social Security away from seniors and would shore up the program for at least seven decades.