Tuesday, January 17, 2012

Three views of Social Security reform in GOP debate

Writing for Forbes, University of Illinois finance professor Jeffrey Brown reviews the discussion of social security reform in last night’s GOP presidential debate in Myrtle Beach, SC.

“In response to a question by Gerald Seib of Wall Street Journal, three of the candidates weighed in on Social Security reform.  Their responses revealed strikingly different approaches to economic policy.”

Mitt Romney, Rick Santorum and New Gingrich all have ideas on how to fix Social Security. Romney takes a more conservative (small C) approach, looking at incremental ways to fix the current system. Gingrich wants a complete overhaul and shift to personal retirement accounts, though with the government backing things up if the accounts fall short. Santorum pointed out that there’s no money to fund Gingrich’s plan, then argued for means-testing benefits for high earners. All had their points. See what Jeff had to say over at Forbes.

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