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Reforming Retirement Entitlements: A Call to Action

This article by Stuart Butler from The Heritage Foundation discusses the need to reform retirement entitlements, proposing innovative solutions such as long-term budgeting, explicit voting on obligations, and income-adjusting benefits to ensure fairness and affordability. The text emphasizes the importance of strengthening guarantees for low-income individuals and promoting savings among middle-income workers.

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Reforming Retirement Entitlements: A Call to Action

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  1. The Budget and Entitlements: Time to Take Action Stuart Butler The Heritage Foundation Iowa City, Iowa December 3, 2007

  2. Time to Rethink Retirement Entitlements • Fix the way Washington spends your money • Show long-term obligations in the annual federal budget • Require an explicit vote to raise obligations • Transform entitlements into 30-year budgeted programs, weighed against other needs • Make retirement programs fair but affordable • Strengthen guarantees for modest income Americans • Income-adjust all Medicare and Social Security benefits • Raise the age for early/normal retirement benefits • Encourage more savings/insurance for middle-income workers

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