History Shows U.S. Can Stimulate Now, Cut Later
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May 23 (Bloomberg) -- From 2017 to 2022, Social Security’snormal retirement age is scheduled to gradually increase to 67.And I’ll bet that not only happens as planned, but does so withlittle fanfare -- which is pretty much what happened severalyears ago when the age rose from 65 to 66.
Therein lies an important point: When policy makers put inplace measures carefully designed to reduce the federal deficitin the future, most of them happen. This is a good thing, sinceenacting more stimulus today and more deficit reduction to takeeffect later is exactly what the U.S. needs.