Senator Lindsey Graham (R-SC) says that Congress should “cut a deal this year to raise the retirement age to 69,” The Hill reports.
Graham, who’d flirted last month with an increase in the retirement age to help address Social Security’s solvency, backed a phased-in hike in the retirement age.
"As I said on ‘Meet the Press,’ I’m looking for a process that will lead to a vote on saving Social Security from bankruptcy this year, that would adjust the age," Graham said on WVOC radio in South Carolina.
Graham referenced as his model the deal cut between President Reagan (R) and Democratic House Speaker Tip O’Neill (Mass.) in the 1980s that provided for a gradual increase in the retirement age to 67.
"Ronald Reagan went from 65 to 67 with Tipp O’Neill … we could use that same type system, to go from 67 to 69, for people under 55," he said.
He also “believes Social Security should be ‘means-tested,’ or adjusted so that wealthier individuals receive slightly less in payments.”