Volcker Rules: No VAT, raise retirement age

Easy for the rich 90 year old to say, but Obama advisor Paul Volcker says the US should consider raising the social security retirement age. He says a VAT for the US is off the table…

Social security is a big liability, but it palls in comparison to Medicare, the health program for senior citizens. Both need radical reform to keep from bankrupting the government over the next 10-15 years.