Social and Economic Impacts
2036 Beneficiaries would only receive 3/4 of their currently expected benefits.
About 50% of the elderly would be living in poverty. Most Americans would not have another source of income for their retirement.
Maintains current built-in retirement incentives
No major effect on labor force participation for workers over age 55.
Source: Social Security Solvency: http://www.ssa.gov/press-office/natldisc.html.