Work Longer, Cut the Deficit?

Two fellows at the Brookings Institute say they have found an upside to the fact that more Americans are having to work longer because they are unable to retire:

As people are forced to work longer in life, they’ll generate additional tax revenue that could reduce federal budget deficits and spending on Social Security…The increase in work could boost government revenue by as much as $2.1 trillion over the next three decades, according to the book “Closing the Deficit — How Much Can Later Retirement Help?” by Gary Burtless and Henry Aaron.

Yay?

Photo: NC Dot Communications

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