Ryan: Social Security Price Indexing Best Way to Go

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Aug. 20 (Bloomberg) -- U.S. Representative Paul Ryan, a Wisconsin Republican, discusses his plans for social security on “Market Makers.” (Source: Bloomberg)

Of problems in your life and family and you can get back on your feet again and you can respond well.

If you have family history, know about it.

I want to kick off the policy talk with one topic -- social security.

You are an economic sky and the book has prescriptions and it makes it clear you're not running for president and you don't really that would you want to put ideas on the table.

What is social security?

You say quite clearly in the book that something in your party that you want to pare back the growth and future benefits to save the program.

I want you to say that clearly, that part of what your plan is is to cut the guaranteed minimum benefit for some.

For higher income individuals.

I think the progressive price index is of smartest way to go.

Bob posen was a democrat on the earlier commission to blend the wage and price increase.

I think the retirement age should reflect long devotee overtime.

According to social security longevity table, it goes up one month every two years.

It reaches 70 years in 2030. it means testing the benefit and reflecting longevity in the retirement age and that would take you very far in the way toward bringing solvency to social security.

You are talking about the guaranteed minimum benefit not for current retirees but phased in over time.

That's right.

What kind of income level?

I don't know off the top of my head because i would have to look at that tables for 55 and below.

You are a numbers guy.

The upper1/=33 of income would have their benefits protected by price inflation but not wage inflation.

Their purchasing power would not be affected.

It's great to have you here.

Despite the taser, we are glad to have you here.

What about presidential aspirations?

This is a book that a lot of people traditionally right before they decide to run to for president.

If that's not the reason why you wrote the book, what is the reason you wrote the book?

It really isn't.

This text has been automatically generated. It may not be 100% accurate.


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