Should We Increase Social Security Benefits?

President Barack Obama says yes, we should. He is calling for increasing Social Security benefits for both current and future retirees:

We can’t afford to weaken Social Security. We should be strengthening Social Security. And not only do we need to strengthen its long-term health, it’s time we finally made Social Security more generous, and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned.