750,000 Americans Get Their Soc. Sec. Payments Cut in Half
Social Security Peg Is a Fix Boomers Can Embrace: Amity Shlaes
By Amity Shlaes
Oct. 18 (Bloomberg) -- High tide is a mystical moment for a lot of us. We actually stand on the beach hoping to capture that second when the foam reaches farthest up on the sand.
Another kind of high tide is sweeping the country these days. It is the high tide of Social Security money.
On Oct. 15 the first baby boomer demonstrated she's ready for more beach-time by applying for a Social Security pension. Kathleen Casey-Kirschling, born on Jan. 1, 1946, leads millions like her. As the boomers head for the beach, the revenue flowing to the government will begin to recede.
Many Americans believe that shift is important -- catastrophic even. They also think that there's nothing they can do but watch.
Don’t worry about losing your Social Security (SSA) benefits in 2040 or 2050. Three quarters of a million American citizens are already losing their…