A new budget by a large and influential group of House Republicans calls for raising the Social Security retirement age for future retirees and restructuring Medicare.
For Social Security, the budget endorses “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.” It calls for lowering benefits for the highest-earning beneficiaries. And it emphasizes that those ideas are not designed to take effect immediately: “The RSC Budget does not cut or delay retirement benefits for any senior in or near retirement.”
Biden has blasted Republican proposals for the retirement programs, promising that he will not cut benefits and instead proposing in his recent White House budget to cover the future shortfall by raising taxes on upper earners.
There is no way on earth that budget passes while Biden is President. But look for it to come back with vengeance if Biden loses.
Millenials (and maybe some younger GenX) will almost certainly be fucked. They will not touch any precious retirees because they know their voter base: “fuck the planet, fuck the youth, I got mine”