Pomeroy announces hearing on Social Security

“[This] hearing will provide
an opportunity to learn how vital this program continues to be for the
well-being of all Americans and why we should consider very carefully any
changes being proposed for how they will affect the lives of current and future
generations of beneficiaries,” he said in prepared remarks.

The hearing will come on the
heels of Europe looking to increase its retirement age to combat its debt
problem. House Minority Leader John Boehner (R-Ohio) has also suggested raising
the U.S. retirement age from 67 to 70 to ensure the solvency of entitlement
programs. 

The bipartisan Committee for
a Responsible Federal Budget came out Thursday with findings that show 79
percent of respondents believe the best way to put the U.S. on sustainable
fiscal path would be to raise the normal retirement age for Social Security to
68.  

The Social Security trust fund is currently running at a $2.6
trillion surplus and is projected to pay all scheduled benefits until 2037.
Afterward, the fund will pay 75 percent of scheduled benefits if changes are
not made to the program.