So what is my simple solution? I would allow people to draw Social Security at the age of 55. It seems that the Government keeps increasing the age that people can retire. What does this cause? It causes people to hold jobs until they are 67. By constantly making it longer for someone to retire it has stagnated the whole job cycle.
Currently all these college graduates have to wait longer for people to retire so they have jobs to replace. It is what has finally caught up with the job market, and caused unemployment to skyrocket.
There are other drawbacks to working till age 67 too. A younger person is going to be more eager, energetic, and productive than a 65 year old working two more years because they have to. Do you see how making the retirement age 55 for full benefits of Social Security would open so many more jobs?
You just can't create more jobs in a bad economy. You have to start looking at what caused it, and finding solutions. No Stimulus is going to create jobs.
I know Social Security keeps saying they are going to run out of money, but let's change how it works. Let's increase our weekly contribution by 25%. This would help stablilize it. Would you be willing to pay another 25% knowing you could retire at 55 rather than 67? Who wants to work until the day they die instead of enjoying retirement?
