I do not like the sound of the idea, but nevertheless it may be necessary. I understand senior citizens are vulnerable, and need assistance to live, and I am not trying to end their benefits. We have to be realistic though, we are already cutting from our children's educations, from the unemployed, I think it's only logical that we look at the whole problem and find a fix.
For years the government has used social security as their fallback fund. When they need money, they dip into the fund and then scramble when it comes time to pay up. They also like to hand it out to everyone...ex: a man in the U.S. for three days applied for and received social security. How is this possible? Hard working people put money into that fund and it is absurd that someone who didn't put in a penny can get something out of it. It is time this country stops giving everything away and starts using the program in the way it was designed for. Bottom line is this: if you don`t put in, you don`t get out.
Cutting social security would be utterly ridiculous. People work for years to ear that money and I do not think that it is right to cut it. The backlash from cutting social security would be crazy. There's many other things that should be cut before we even consider social security.
The seniors collecting social security earned that money, it's not a government handout. Therefore, the government has no right to take the money away from them. If we must make cuts, we need to look elsewhere, many seniors are barely surviving as it is, and can't afford basic needs on what they get from Social Security.
The only way that it would be "fair" to cut Social Security would be to make a totally new contract that begins for people born after the day the new law passed. I'm a retired person who paid into SS my entire life under a certain understanding of what to expect. To my generation it was almost like insurance or a contract. It would be totally unfair to change the rules of the game at this point for me, and to those younger than me it is also unfair if they have been paying into SS for any length of time. It is similar to a bank that would take my savings for 50 years in an account that said it would pay a certain percentage of interest at the end of those 50 years, and then when the time came to collect it says it changed the rate.