People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Leve

[earthside]

4. Talk of cuts to Social Security won't help.

With the bulge of baby boomers headed for retirement in the next few years, and with a vast majority of them with little or no retirement funds, the last thing we need to do is talk about or actually cuts to Social Security or Medicare.

This kind of talk by the President, in my estimation, just foster even more of a hunker down attitude: don't spend if you can help it; pay down debt instead of saving; be very financially conservative; etc.

If we want to stimulate the economy to create a future with more jobs, Obama ought to be talking about increasing Social Security and Medicare benefits --- that's the kind of reform we need. That would make a lot of 50-somethings feel a lot more secure about the future and perhaps willing to spend more.

Of course, we could cut the ridiculous military spending to help pay for increasing Social Security benefits.

So, I'm still supporting sequester for the time being -- Social Security isn't touched by it and the military is actually seeing some cuts for a change.