Really, how do you thank the President, the Treasury Secretary, the Chair of the House Ways and Means Subcommittee on Social Security, The House Majority Leader, and the President’s OMB Office for promising to continue pushing a proposal that is deeply unpopular with independent voters?
Of course, the Bamboozlement over the issue continues as many in the press seem to think that a program that affects every American is not a big issue to worry about and Illinois Republican candidates for Congress try like hell to avoid the issue.
But, if the press does it’s job, Roskam and McSweeney have made their positions clear in his responses to the National Taxpayer Union’s candidate questionaire.
Both answer yes to the following question:
SOCIAL SECURITY CHOICE. I recognize that Social Security will default on its obligations to future retirees unless fundamental reforms are made. Therefore, I will work and vote for a system of Social Security Choice that will allow younger workers to have the choice of investing much of their Social Security taxes in regulated individual retirement accounts. Current retirees and those nearing retirement would not have any change in their Social Security benefits. Social Security Choice will give younger workers the option of ownership of personal Social Security accounts, with higher rates of return and better benefits than are possible under the current system.
That is a perfect description of the CATO plan which is essentially the outlines of the President’s plan that wasn’t a plan.
Making matters even more interesting is Roskam’s response to AARP
Without a doubt, Social Security must be protected. At the same time, I believe Social Security must be strengthened so that it can pay retirement benefits for years and years to come. Although no current or near retiree is facing benefit cuts, the benefits for future generations are at risk simply because the number of retirees continues to grow relative to the number of available workers who pay into the system. Therefore, I believe we should look at ways to improve the overall retirement security for all of us. If I am fortunate to serve you in Washington, I will examine all the proposals that are on the table. My position is that we must find a way to strengthen and protect Social Security without raising payroll taxes, without reducing benefits, without raising the retirement age and without privatizing the system.
What’s great is this sentence:
Although no current or near retiree is facing benefit cuts, the benefits for future generations are at risk simply because the number of retirees continues to grow relative to the number of available workers who pay into the system
This has always been true since the inception of the system. It does create challenges, but it certainly doesn’t require this kind of reduction in benefits.
ArchPundit
