Monday, April 1, 2013 | 2:02 a.m.
In his letter to the editor, “Social Security not meant to be a lender,” Dan Olivier has obviously bought into the politicians’ scare tactics that are preventing meaningful fixes to the coming entitlement train wreck. The escalating Social Security deficits are real and are contributing to the debt crisis because there is no money in the looted trust fund to cover them. And retirees are being hit hard by deficit-fueled inflation.
Tea Party proposals to fix the problem by eliminating Social Security and replacing it with a stock market investment scheme were thankfully ditched a long time ago. But denying the problem will only make it worse. It’s time for real fixes such as increasing payroll taxes on the rich and reducing rich retirees’ benefits.