NU Online News Service, Feb. 4, 2005, 5:20 p.m. EST
Members of Congress are facing financial pressure to cut Social Security benefits for members of a large group of baby boomers.[@@]
Douglas Holtz-Eakin, director of the Congressional Budget Office, pointed out Thursday in testimony on Capitol Hill that cutting benefits 10% for workers born in the 1950s could produce twice as much savings over a 40-year period as imposing the cuts only on workers born after 1959.
That example “is not intended as a recommendation,” Holtz-Eakin said at a hearing organized by the Senate Special Committee on Aging, according to a written version of his testimony.