This was a striking moment from the Social Security breakout session of the fiscal responsibility summit. Amy Goldstein reports that Rep. John Boehner (R-Ohio),
“„Boehner said the government should consider cutting or eliminating SS benefits for older Americans with high retirement incomes. “Why don’t we just admit we are broke? If you have $150,000 in non-Social Security retirement income, thanks for your contributions but phase out the benefits or eliminate them… I don’t have any problem looking people in the eye and saying, ‘Thank you for your contributions, but for the good of the country, your benefits are gone.’ ” He also said increases in SS payments should be pegged to the Consumer Price Index, not wage inflation. And he said “we need to get serious about raising the retirement age.”