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Sun Dec 30, 2012, 11:43 AM

Lindsay Graham: I Will Destroy America’s Solvency Unless The Social Security Retirement Age Is Raise [View all]

Source: ThinkProgress

Lindsay Graham: I Will Destroy America’s Solvency Unless The Social Security Retirement Age Is Raised

By Ian Millhiser posted from ThinkProgress Economy on Dec 30, 2012 at 11:25 am

Although official Washington is currently fixated on the so-called “Fiscal Cliff,” the biggest threat to American prosperity is the debt ceiling, which must be raised in February to prevent economic catastrophe. If Republicans refuse to reach a deal on the so-called cliff, the Congressional Budget Office predicts that they will spark a new recession in 2013. But if Republicans block action on the debt ceiling, they will make that potential recession look quaint. Without raising the debt ceiling, the United States will be forced to embrace austerity so severe it will lead to “a bigger GDP drop than that experienced during the Great Recession of 2008.”

But in an interview on Fox News Sunday this morning, Sen. Lindsey Graham (R-SC) threatened to oppose this must-pass bill unless Social Security benefits are taken away from millions of future retirees:

I’m not going to raise the debt ceiling unless we get serious about keeping the country from becoming Greece, saving Social Security and Medicare . So here’s what i would like: meaningful entitlement reform — not to turn Social Security into private accounts, not to take a voucher approach to Medicare — but, adjust the age for Social Security, CPI changes and means testing and look beyond the ten-year window. I cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and I will not.


Watch it:





Read more: http://thinkprogress.org/economy/2012/12/30/1379681/lindsay-graham-i-will-destroy-americas-solvency-unless-the-social-security-retirement-age-is-raised/

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