Posted on 09/10/2011 5:52:02 AM PDT by Cincinatus' Wife
Washington — A growing divide over Social Security splits the two leading contenders for the Republican presidential nomination, and the differences between Texas Gov. Rick Perry and former Massachusetts Gov. Mitt Romney foreshadow a tricky political dance with older voters.
Romney has seized on what he perceives as Perry’s vulnerability on a program that seniors hold dear, Democrats venerate as sacrosanct and Perry has labeled a “Ponzi scheme.”
That sets up a battle for older voters in Iowa, retirees in Florida and the Sun Belt, and Baby Boomers everywhere worried about their own recession-scarred retirement plans.
“If we nominate someone who the Democrats could correctly characterize as being against Social Security, we would be obliterated as a party,” Romney said on Sean Hannity’s radio program Thursday.
Perry is unyielding.
At a Friday fundraiser in California, Perry stood by his criticism of Social Security and his position that the program is best left to states to administer — a non-starter for many, including some Republicans.
“For people who are on Social Security now, like my folks, and people who are approaching Social Security, like me, it’s going to be there,” he said.
But, he said, he didn’t know at what point age-eligibility will have to be raised because the funds simply aren’t there.
“Anybody that’s for the status quo with Social Security today is involved with a monstrous lie to our kids, and it’s not right,” he said earlier this week during a debate.
An aging population has put a heavy burden on the Social Security Trust Fund: too few workers are paying for the benefits of a growing number of retirees. In 1950, there were 16 workers paying into the fund for each recipient. Last year, that ratio fell to three workers for every recipient. Left unaddressed, cuts in benefits would be forced in 2037.
But any talk of cutting benefits comes with political risk.
“Governor Perry’s immediate challenge is to knock down the hanging perception being driven that he wants to get rid of Social Security,” said Rich Killion, a Republican strategist who worked on Romney’s 2008 presidential bid and advised former Minnesota Gov. Tim Pawlenty’s bid this year.
The Romney-Perry spat comes as the contest for the Republican nomination begins to flare. With three formal debates and a handful of forums this month, the campaign to challenge President Barack Obama has taken on urgency as voters return from their summer vacations and start to pay attention to politics.
Since Perry joined the race last month, Romney has seen his lead fade, driving him to focus his aggressive criticism on Perry instead of looking ahead to a general campaign against Obama.
“The governor says look, states ought to be able to opt out of Social Security. Our nominee has to be someone who isn’t committed to abolishing Social Security, but who is committed to saving Social Security,” Romney said, sharing the stage with his rival.
An AP-GfK poll in May found that 70 percent of Americans consider Social Security deeply important to their financial security in retirement. Just 6 percent said it was “not at all” important.
Yet the public is split on the likelihood Social Security will be there for them: 35 percent say it is extremely or very likely to provide income their entire retirement, 30 percent somewhat likely and 35 percent not too or not at all likely.
It’s that uncertainty that both campaigns hope to tap.
“I know Florida certainly has an interest in Social Security given the large number of seniors we have here,” said John Thrasher, a Republican state senator and former state GOP chairman who backs Romney.
“It’s not whether it’s a Ponzi scheme or not. These are retired people who are pretty intelligent. They want Social Security to be maintained. And they understand there are problems that need to be fixed. There is an opportunity to fix Social Security so it’s a continued benefit for people who are getting it now and those who will get it in the future.”
While almost all the Republican candidates dither about Social Security, Cong. THAD MCCOTTER is going to do something about it. On Monday, at the Heritage Foundation, McCotter will introduce the SAVE SOCIAL SECURITY ACT, a plan that will neither raise taxes nor reduce benefits. Social Security expert Peter J. Ferrara, who worked on this legislation, declared that this legislation would provide for the “single biggest spending reduction” in Federal history. Let’s see: Thad McCotter speaks IN DETAIL about the neccessity to re-structure the banking system, speaks stongly about the threat that is Communist China, will introduce Social Security reform legislation, but he gets excluded from the debates because he doesn’t meet an artificially created, media driven, national polling threshold?
“Sorry if you believed any politicians lies that said otherwise.”
Hear, hear! You’ve stated it well.
I don't have to read a damn thing...the check comes every month....that sonny is the reality. And I'm pretty sure when you hit that age you will meander on down to the local SS office and sign up!!!
Congressman Thad McCotter is one of Jack Wheeler’s favorites.
I know, you're of the same mentality as Shaniqua who eagerly awaits midnight on the first of the month when her EBT card gets recharged. You and those like you are going to be America's downfall.
Thanks, hope you enjoy your 30 pieces.
Perry should make it clear that Social Security for seniors is safe.
Perry should make it clear to the younger voters that he does not want them to be cheated in the future.
Keeping Social Security as a "payment by younger workers as we go" system is simply not sustainable. The younger working voters know that.
I know you will. I see those grinning faces of your Shaniqua welfare brethren every first of the month in the grocery store parking lot.
I understand how much you enjoy your welfare check. A leech isn't ashamed of being a leech, it's what he is. It's the responsibility of those of us who don't want leeches on us to burn them off with a cigarette.
Don't worry, nobody is asking your freeloading behind to do anything. Mathematic reality or inflation will do the heavy lifting.
Agreed. Perry needs to be less provincial. Not everybody in America lives their entire life in one State.
So far, I have lived in Florida, Texas, Georgia, South Carolina, Maryland, California and Washington State.
The Commonwealth of Virginia tried to claim me once for state income tax purposes, because my mailing address during my one year tour of duty at U.S. Naval Base, Guantanamo Bay, Cuba was "FPO Norfolk, VA" but an extremely sarcastic reply to Virginia with a copy to the JAG Corps officer solved that issue.
Agreed. Perry needs to be less provincial. Not everybody in America lives their entire life in one State.
So far, I have lived in Florida, Texas, Georgia, South Carolina, Maryland, California and Washington State.
The Commonwealth of Virginia tried to claim me once for state income tax purposes, because my mailing address during my one year tour of duty at U.S. Naval Base, Guantanamo Bay, Cuba was "FPO Norfolk, VA" but an extremely sarcastic reply to Virginia with a copy to the JAG Corps officer solved that issue.
POST #16!
Sept 7, 2011: 4 Minute YouTube VIDEO Clip: Perry Fires At Rove & Romney: Social Security Is A "Ponzi Scheme" And A "Monstrous Lie"
How old are you?
Most Freepers are Boomers. And most Freepers want, need and plan to take (or are taking now) S/S. So you are right. Most members of this site are pro S/S. Their plans have revolved around getting it their whole working life.
The facts of the system have been laid out to you, which you haven't rebutted or even attempted too. In fact you've agreed with the premises and reveled in them.
That would mean my age is about as irrelevant to the conversation as the weather in Tibet today.
Yes, they planned to receive hundreds of thousands of dollars transferred to them by the gov't and didn't even bother to read the law or any pertinent court cases.
Would you have any sympathy for someone who got burnt in their retirement plans because of a high-risk investment ant they didn't even bother to read the prospectus?
All day long and all night on this site we bash and bash and bash the entitlement mentality of group after group after group.
And then suddenly when it comes to older people and SS everyone is supposed to suddenly be polite, hush hush, and mind their Ps and Qs.
No, I'm not playing that game. A blind man could see the double standard.
Of course, and I do agree - but the questions I, as a conservative and ostensibly a Perry supporter ask, are going to be asked much more seriously by someone who is on the fence, and he should have a real plan to explain it.
OK, what’s YOUR plan?
Such a plan could certainly be transferrable among states (much like 529 college plans are) but there are logistical concerns to deal with, plus, what if one state’s plan is a very high-yielding private accounts plan, and anothers is a much poorer-performing, pension style plan? Would people start registering vacant lots in the former state to get into their plan?
Great idea but needs some specifics.
I’m just saying, I believe 99% of the members of FR, when they reach retirement age will take (or are taking now) S/S. Despite everything we say here about how bad S/S is, we will all be in. My wife and I get it. It’s part of our financial plan. Not all, but a part. Always has been.
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