Hazel Bradford of Pensions & Investments looks at an exchange between Gov. Chris Christie and former Gov. Mike Huckabee at last Thursday’s Republican presidential debate:
New Jersey Gov. Chris Christie, who plugged a 12-point entitlement reform plan, proposed raising the Social Security retirement age to 69 from the current 67, by increasing it one month each year over the next 25 years, starting in 2022. He also called for eliminating benefits for people with retirement income above $200,000 and more than $4 million in savings. Not dealing with Social Security, he said, “will bankrupt our country or lead to massive tax increases.”
Former Arkansas Gov. Mike Huckabee defended the program, saying that of the 60 million Americans receiving Social Security benefits, one-third rely on it to provide 90% of their income. Mr. Huckabee challenged members of Congress to give up their own retirement benefits first.
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