WASHINGTON, (Reuters) – The co-chairmen of a presidential panel to cut the U.S. deficit are recommending raising Americans’ retirement age and phasing in spending cuts, a source familiar with the draft proposals said today.
The source, who spoke on condition of anonymity, said the proposal suggests raising the retirement age to 68 by 2050 and 69 by 2075 with a “hardship exception” for certain occupations where that would be unrealistic.
