GOP candidates debate Social Security, Cain and Perry get it right

Governor Rick Perry has been on the record calling Social Security a “Ponzi scheme” and the comments came under fire by Mitt Romney during the GOP presidential debate while Herman Cain offered up the best solution.

Romney said you cannot say that to the tens of millions that social security is a failure. He believes that Republicans ought to nominate “someone who is not committed to abolishing social security” but instead saving social security. He argues that the program must be kept and made financially secure. Romney used Social Security as an issue to distinguish himself from Perry, but he sounded more like an apologist for the program which Perry accurately regards as a failure.

While Romney and Perry disagreed rhetorically on Social Security, Herman Cain jumped in with the keenest solution: use the model deployed successfully in Chile. “I believe in the Chiliean mode,” Cain said, it will help transform the United States “from an entitlement society to the empowerment society.”  The Chilean approach requires a payroll contributions for individuals but allows them to invest and manage the accounts themselves, personal accounts. “That is a solution to the problem. Let’s just fix it.” Hopefully some of the other GOP candidates will follow Cain’s lead on this one.

Comments

  1. The answer to Social Security is; to demand that the imbeciles in Congress replace the trillions of dollars that was stolen from Social Security for there “Pet Projects.” Call it the “Citizens Reparation Project.” Furthermore all government employee retirement funds should be transferred to the Social Security Fund including Congress’s Pension funds, Both Houses. While we are at it, we should stop giving money to our enemies for them to steal. In addition all union pension funds should be transferred to Social Security Fund. After all aren’t we “All Created Equal.” Let’s work on getting rid of the “Carpet Baggers” and self-indulging slim that represent themselves and not the people who put them in their present positions.
    Support term limits to 2 terms per House (Senate and Representatives).

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