The head of the Social Security Administration knows it. In a Washington Post article last year, Commissioner Kenneth Apfel spoke of his own father s frustration with working only to the limit to avoid losing the full benefits he had earned during his working years. He wanted his full Social Security entitlement when he was entitled to it. Currently in his mid-sixties, Mr. Apfel Sr. states, I m not sure what happens in 10 or 15 years. He wants to enjoy his benefits now.
Businesses know it.
Our economy is currently experiencing the longest expansion in history. Everywhere you turn, it is clear that help is wanted. Government analysts project that although the economy will add 19 million new jobs by 2006, available labor will only grow by 15 million. With labor shortages like these, continuation of a policy preventing retired workers from increasing their hours is, in a word - nuts. And finally, inside the Beltway, they know it.