AARP Open to Social Security Cuts

    AARP chief executive officer William D. Novelli speaks to seniors about President Bush's plan for allowing younger workers to divert a portion of their Social Security payroll taxes into private investment, in Amherst, N.Y., Wednesday, March 9, 2005.

    David Duprey / AP Photo

    Just in time for debt talks, the leading lobby for senior citizens, AARP, says it’s open to some Social Security benefit cuts. John Rother, AARP’s policy chief, said that reductions in benefits should be “minimal” and “far off in the future.” Previously, AARP was seen as a major opponent of cuts. Rother explained, “Our goal is to limit any changes in benefits, but we also want to see the system made solvent.” Last month, the Social Security Administration released estimates that its trust funds would run out by 2036, and that it would require an additional $6.5 trillion over 75 years to continue paying benefits.

    Read it at The New York Times