A lot of fiscal hawks, not all of them Republican, think that big savings can be had by raising the retirement age, and thus kicking the cost of social security/pensions for that cohort down the road just that far.
The trouble with this is that that aging cohort is still occupying a seat at the table that could be better filled by a younger worker with more relevant skills, knowledge, and abilities; and that we’re still obligated to pay for their benefits. Postponing retirement doesn’t negate the financial obligation we have to the retiree.
The solution here is quite simple: lower the retirement age to 60. Or, 55. The number is really arbitrary. If you start removing people from the workforce earlier, you free their position for the person underneath them. That position is filled by someone else. And so on, until the teeming masses of un-and-underemployed postgrads suddenly find themselves with paying jobs instead of bullshit internships.
The benefit here is twofold: first, the obvious benefit of finding work for a new, dynamic group of younger workers who, to be honest, could use the break; but also of funding the retirement benefits given to our hypothetical early retirees.
Between a rapidly graying population and a diminished economy, the number of people kicking in payroll and social security taxes is necessarily shrinking. By mandating early retirement and pumping untold amounts of fresh blood into the economy, we’re stimulating tax revenues that can go towards maintaining the vitality of our social safety net for future retirees.