Obama Intends To Slow Down Social Security

Barack Obama will be trying to cut the budget for social security by decreasing the rate of its growth. Those pushing for the policy want to lower calculations for the cost of living, but many libertarians are disagreeing with this because they believe that it would be very difficult for senior citizens to take care of themselves.

Though I do believe that the government should provide social security and some forms of benefits for the elderly I do think that slowing down the growth of social security is a good idea. The United States is in a large amount of debt, and it would be difficult to map out a budget to cover these expenses especially when there is even more people retiring now as a result of the baby boom. The government would have to cover a large amount of elderly if nothing is done about social security, and money is not something the government should be easily handing out.

Written by: Jessica Ho
Source: The Wall Street Journal

http://online.wsj.com/article/SB10001424127887323820304578411020455295746.html?mod=WSJ_economy_LeftTopHighlights

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